The NFH digital repository was built with the help of artists and photographers whose work we may have gotten. Our hand-picked collection of unique and original photographs and artwork has since been uploaded as an NFT.
NFT is an acronym for non-fungible token. In economics, the fungible asset is something that can be exchanged in units, such as money. A non-fungible asset has unique properties and cannot be exchanged for another.
At their most basic level, NFTs can be thought of as "Bitcoins for art." Bitcoin became the digital equivalent of money, while NFT became the digital equivalent of collectibles. Bitcoin, for example, allowed people to spend and save virtual money without the need for a central authority. Similarly, NFTs allow images, videos, music, or anything else that can be virtualized to be encased in a form that can be bought, processed, or approved without the intervention of a moral arbiter.
At their most basic level, NFTs can be thought of as "Bitcoins for art." Bitcoin became the digital equivalent of money, while NFT became the digital equivalent of collectibles. Bitcoin, for example, allowed people to spend and save virtual money without the need for a central authority. Similarly, NFTs allow images, videos, music, or anything else that can be virtualized to be encased in a form that can be bought, processed, or approved without the intervention of a moral arbiter.
Non-fungible tokens, unlike Bitcoin and Ethereum, cannot be directly exchanged on crypto exchanges. NFTs are bought and sold through specialized platforms. A non-fungible token (NFT) marketplace is a decentralized platform for storing and trading non-fungible tokens.
All NFTs can be offered at a fixed price or sold at an auction on such a platform. To execute transactions on most NFT platforms, buyers and sellers must have crypto wallets.
The majority of NFT auction platforms adopt a similar user journey. The user must first create an account and install a digital wallet to store NFTs and cryptocurrencies. Creating an account on the platform is basically the same as registering a wallet.
After that, the sellers can start creating their collection by uploading items to display their work. The user can also select which payment tokens they want to accept for their artwork and set an additional commission if the platform allows it.
All NFTs can be offered at a fixed price or sold at an auction on such a platform. To execute transactions on most NFT platforms, buyers and sellers must have crypto wallets.
The majority of NFT auction platforms adopt a similar user journey. The user must first create an account and install a digital wallet to store NFTs and cryptocurrencies. Creating an account on the platform is basically the same as registering a wallet.
After that, the sellers can start creating their collection by uploading items to display their work. The user can also select which payment tokens they want to accept for their artwork and set an additional commission if the platform allows it.
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.
Polygon is a multi-chain system that combines the best of Ethereum and sovereign blockchains.
Polygon addresses the problems with Blockchains, like expensive gas fees and slow speeds, without compromising security. This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche, etc., but with at least three major upsides:
It can fully benefit from Ethereum's network effects
It is inherently more secure
It is more open and powerful.
Non-fungible tokens (NFT) adoption and NFT-based fantasy gaming, according to Spencer Noon, a cryptocurrency venture capital fund, have spurred the rise of Polygon's user base. Because of this, the Polygon network overtook the famous Ethereum Blockchain network in terms of the user base, with over 566,516 active users on the platform, according to a Polygonscan research report released on October 2.
Polygon is a multi-chain system that combines the best of Ethereum and sovereign blockchains.
Polygon addresses the problems with Blockchains, like expensive gas fees and slow speeds, without compromising security. This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche, etc., but with at least three major upsides:
It can fully benefit from Ethereum's network effects
It is inherently more secure
It is more open and powerful.
Non-fungible tokens (NFT) adoption and NFT-based fantasy gaming, according to Spencer Noon, a cryptocurrency venture capital fund, have spurred the rise of Polygon's user base. Because of this, the Polygon network overtook the famous Ethereum Blockchain network in terms of the user base, with over 566,516 active users on the platform, according to a Polygonscan research report released on October 2.
Unlike many other NFT marketplaces, Non-Fungible History needs no commission, and NFT minting is completely free! Moreover, the platform combines Polygon edge in transaction speed, low fees, and a user-friendly interface. That's why it can be a perfect choice even for the less tech-savvy artists.
One of NFH's long-term goals is to implement royalties, which would allow creators to profit from secondary sales of their NFTs. Because, in any situation, our platform will keep its promise to become the most user-friendly platform for introducing NFTs to everyone!
Contact us:
admin@nfh.app