What Are NFTs? How To Purchase The Digital Assets?

​Non-fungible tokens – or simply NFTs, are digital assets that allow you to prove ownership of a store of value. This could be a non-tangible item like a virtual drawing or something physical such as fine art, sculpture, or real estate.

What Does NFT Stand For? NFT Definition ​

NFT stands for non-fungible token. The key takeaway is as follows:

• Non-fungible tokens are cryptocurrency assets that are represented in digital form
• However, each NFT token is unique from the next, unlike Bitcoin – which is fungible
• This allows both tangible and non-tangible assets to be tokenized
• This is in stark contrast to fungible tokens, which are similar to cash
• After all, one $10 bill is the same as another $10 bill – in terms of its ability to be used as a medium of exchange

​Ultimately, the main concept with NFTs is that you can invest in something of value without needing to physically own or store the respective item. As such, this makes it a breeze when it comes to buying and selling NFTs such as NFT ASCFP-LE 301 in the open NFT marketplace such as NFT Opensea

​NFTs Explained – the Basics?

​In many ways, NFTs are too similar to traditional digital currencies like Bitcoin, Ethereum, and Dogecoin. In fact, the NFTs are represented as digital assets and they operate on top of a blockchain network.
This ensures that NFTs can be transferred from wallet to wallet in a fast, secure, and low-cost way. Being built on top of a blockchain network also ensures that NFTs are verifiable in a transparent way.
However, where NFTs are different from the aforementioned digital currencies is that each token is identifiable via a unique transaction hash. In simple terms, no two NFTs are identical.

​Fungible vs Non-Fungible

In a nutshell, the physical dollars and cents that we use every day to make purchases are fungible. For instance:​

• Let’s suppose that you have a $20 bill, but you need some change for the vending machine – which only accepts $1 bills
• As such, you ask somebody to exchange or swap your $20 bill into small denominations.
• In turn, you are given a $10 bill, $5 bill, and 5 x $ 1 bills
• Ultimately, although you now have different notes from your original $20 bill, nothing has changed in terms of value
• This is because you still have a total of $20 at your spending or disposal

 
As per the above example, cold-cash cash is a fungible asset class. Similarly, this is also the same with virtually all of the cryptocurrencies in circulation today.
 
However, NFTs are non-fungible asset classes. This means that you cannot exchange or swap one NFT for another and expect to retain the same value – as each token is unique. For example:

• Let’s say that an artist creates a new physical painting or sculpture
• The artist then decides to create an NFT ASCFP LE 301, which represents the value of the said painting or sculpture
• This means that the NFT is unique only to the respective painting or sculpture and thus – it cannot be imitated or copied
• Once again, this is because each NFT can be verified for its authenticity through a unique transaction hash on the NFT Opensea marketplace

Naturally, NFTs can represent pretty much anything that has perceived value. Whether that’s a virtual painting, sculpture, house, car, or sporting moment – In short, the NFTs allow you to store ownership in a digital manner.

Blockchain Protocol ​

​All of the best NFT tokens are hosted on a blockchain protocol. To date, many creators of NFTs prefer the Ethereum blockchain, not least because it supports ERC-721 tokens. In a nutshell, this specific sub-set of the Ethereum blockchain is ideal for NFTs, as each ERC-721 token is unique from the next. Therefore, our NFT ASCFP LE 301 has been minted on the Opensea marketplace and it is available to invest with Ethereum coin.

​NFT Minting 

​When searching for the best NFT tokens to buy, a term that you will often come across is ‘minting’. In its most basic form, minting simply refers to the process of creating a new NFT token that is yet to exist.
This means that when you buy NFT tokens, you are purchasing a digital asset that has already been created by somebody else such as DecaceOfPeace
Crucially, if you have something unique that you wish to represent via a unique crypto-asset, then NFT minting is well worth exploring further. For example:

• You might have created a groundbreaking study on an independent basis and wish to protect your findings.
• You can do this with ease by minting an NFT on top of a blockchain network such as Ethereum or the Binance Smart Chain.
• In doing so, your NFT verifies beyond all reasonable doubt that you are the true owner of the said study.

And, as soon as your NFT is minted – which often takes just minutes, it can then be traded in the open marketplace such as Opensea Marketplace.

​Fractional NFTs 

 You likely know that standard cryptocurrencies like Bitcoin and Ethereum can be split into smaller units – which ensures that you don’t need to purchase a full token to gain access to the market.

For instance, if Bitcoin is trading at $30,000 per token and you invest $300, then you own 1% of a single BTC.
​
Now, many people are unaware that the process of splitting digital tokens into small units can also be achieved with NFTs. In fact, this is one of its greatest characteristics, as it allows multiple people to own something of value.

• As a basic example, a bronze sculpture is a US$ 2.5 million limited edition sculpture that is represented as an NFT.  It is called, NFT A Sporting Chance For Peace Limited Edition 451 or simply NFT ASCFP-LE 451.
• You are the sole owner of the sculpture or property and thus – the respective NFT token
• You wish to release some equity on the NFT ASCFP-LE 451, so you decide to split the NFT ASCFP-LE 451 into 1,000 shares or US$ 2,500 per share.
• You keep 500 NFT ASCFP-LE 451 (50%) and decide to sell the remaining 500 NFT ASCFP-LE 451 on the open market

Those buying each NFT would therefore own a percentage of the NFT ASCFP-LE 451 – should the agreement be backed by relevant contract law.

​Generally, you will buy NFTs using a cryptocurrency, such as ether (Ethereum's native cryptocurrency), although the price may also be listed in dollars.

​How to buy an NFT 

You can buy, sell, trade, and create NFTs from online exchanges or marketplaces. The creator or current owner may choose a floor or a specific price. Or there may be an auction, and you'll have to bid on the NFT. 
​

• Foundation: A community-curated marketplace that requires creators to be invited by other creators who are already part of the platform.  
• Nifty Gateway: An art-focused marketplace that works with big-name brands, athletes, and creators. 
• OpenSea: One of the first and largest marketplaces where you can find NFTs for a wide range of collectibles. 
• Rarible: Offers a range of NFTs with an emphasis on art. Uses its own RARI token to reward members.
• SuperRare: A marketplace that focuses on curating and offering digital art.

 
Important: NFTs can be highly speculative assets. Some people have made thousands or millions of dollars selling NFTs. Others may wind up spending a lot of money on a digital asset that winds up being worthless.

The sign-up process can vary depending on the marketplace. Generally, you'll buy NFTs using a cryptocurrency, such as ether (Ethereum's native cryptocurrency), although the price may also be listed in dollars. Depending on the marketplace, there may be different fees associated with each transaction.

​Not All NFT Arts Are Minted Equal​

Our NFT A Sporting Chance For Peace Sculpture Limited Edition 301 to 500 Have Been Reserved To Spearhead the Global Anti-Bullying Campaign

**Our NFT-ASCFP-LE 301-500 are included: 
(a) The Royalty Payment,
(b) The Social Impact,
(c) The Positive Public Relation,
(d) And More Specific Benefits at https://bit.ly/3hBOCbI
 
The A Sporting Chance For Peace Sculpture Spearheads A Worldwide Anti-Bullying Campaign 
 
Award-Winning International British Sculptor & World Champion Masters Athlete & Listed in FORTUNE Magazine as a Game Changer - Donald Brown
 
Donald Brown has created a sculpture over a period of four years.  It is titled A Sporting Chance for Peace (ASCFP) and it will be the ‘Centrepeace’ for TGG’s anti-bullying campaign internationally.
 
The NFT A Sporting Chance For Peace Supports TGG’s Anti-Bullying Campaign
 
Under The Creative Arts of this Anti-Bullying Campaign, TGG has reserved NFT-ASCFP-LE301 through LE500 for 193 countries of the United Nations.
 
For this global campaign, TGG has combined strategic components to address bullying and violence worldwide. Together, they create the foundation and infrastructure for this campaign. The profits from this Anti-Bullying Campaign will be allocated to the royalty payments and positive public relations for the social impact investors or art collectors who purchase our NFT A Sporting Chance For Peace Limited Edition 301 through 500 (“NFT-ASCFP-LE 301-LE 500”).
 
Learn more at DecadeOfPeace:  https://bit.ly/3HCXfNM
​

​NFT Art Summary

While there may be many practical applications for NFTs in the future, they're primarily used with digital art today.

"For creators, NFTs create a seamless way to sell digital art that might not have much of a market. Additionally, there are ways in which creators can get paid fees for each subsequent sale of the art," says Ceesay. "On the flip side, collectors are able to speculate on digital art as well as have bragging rights on rare collectibles on the chain."

If you're considering purchasing an NFT as an investment, know that there's no guarantee it will increase in value. While some NFTs sell for thousands or millions of dollars, others may remain or become worthless.