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Depending on which marketplace you choose, you’ll be able to purchase different types of art or collectibles. There are many marketplaces to buy and sell NFTs.
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Instead, NFTs have value because of the media attached to them –– the most common forms of media on NFTs today are art and music, but NFTs have the potential to tokenize any real world asset.
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Many of these tokens don’t have value from their utility like other cryptocurrencies. Non-fungible tokens are much different from other cryptocurrency investments. Artists like Beeple are using NFTs to release digital artwork that can be verified authentic through the blockchain. This 1/1 piece dubbed The First 5000 Days by Beeple is just one of many NFTs selling at unprecedented amounts. In March, Christie’s Auction house set a record for the highest selling non-fungible token (NFT) to date, a transaction worth more than $69 million in Ethereum. The only way to truly own a digital item is through ownership on a public blockchain NFTs aren't controlled by a central entity, allowing for true ownership of these assets. After the incident at Travis Scott's concert, for example, Fortnite deleted users' Travis Scott skins, leaving them with nothing. Prior to NFTs, digital ownership relied on central servers of companies, which can be manipulated. NFTs take digital ownership to the next level with the help of the blockchain. Digital ownership is a relatively new concept that is becoming increasingly popular, especially with younger generations. Fortnite skins are character decals add no real value to one's gaming experience, yet kids across the world beg their parents to spend hundreds of dollars on them to show off to their friends.