An NFT is a digital asset that can come in the form of art, music, in-game items, videos, and more. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.

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Blockchain technology and NFTs afford artists and content creators a unique opportunity to monetize their wares. For example, artists no longer have to rely on galleries or auction houses to sell their art. Instead, the artist can sell it directly to the consumer as an NFT, which also lets them keep more of the profits. In addition, artists can program in royalties so they’ll receive a percentage of sales whenever their art is sold to a new owner. This is an attractive feature as artists generally do not receive future proceeds after their art is first sold.

First, you’ll need to get a digital wallet that allows you to store NFTs and cryptocurrencies. You’ll likely need to purchase some cryptocurrency, like Ether, depending on what currencies your NFT provider accepts. You can buy crypto using a credit card on platforms like Coinbase, Kraken, eToro and even PayPal and Robinhood now. You’ll then be able to move it from the exchange to your wallet of choice.

Essentially, when creators and artist create an NFT, they are allowed to set a Royalty fee. Most platforms have a fixed rate for each artists like 10% to 20%. However, marketplaces like Rarible allow creators to set their own Royalty fee.

An NFT airdrop provides holders with additional tokens and non-holders the chance to claim a token. Creators use airdrops to add value to their NFT projects, build a stronger community, create hype, and reward existing holders. Airdrops are usually free and require little to no action to claim.

Solana is a cryptocurrency that was designed to work similarly to and improve upon Ethereum. Named after a small Southern Californian coastal city, Solana is the brainchild of software developer Anatoly Yakovenko.