An NFT (or non-fungible token) is a unique digital item secured by blockchains. Since each NFT is unique and distinct from another, they are quite different from traditional cryptocurrency tokens which are like-for-like (or, fungible) with one another.
There are countless practical applications for NFTs, most commonly the sale and transfer of digital works and other collectibles like artwork, songs, videos, game tokens, and more.
An NFT collection is a group of NFTs following a story arc or over-arching them, and often involves content evolution. A collection can be made up of one or multiple drops, and an artist can release multiple collections over time.
An NFT drop is simply the release or launch of an NFT collection. When a collection “drops”, it’s generally the time and date the NFT minting happens and becomes available to the public. Since scarcity equals value, collectors often watch for upcoming drops in order to be the first to purchase.
Buying your first NFT might sound intimidating, but it can be an exciting experience, too! If you’re new to NFTs on Stacks and Bitcoin, you may need to follow a couple of steps to first obtain Stacks (STX) cryptocurrency, which is used to purchase NFTs on STXNFT.
Most simply put, you need to connect a supported digital wallet extension to STXNFT and allow usage of your wallet’s cryptocurrency for the purchase of an NFT.
While we have no explicit affiliation with Hiro, we recommend using the Hiro wallet extension for the best experience. You can download the Hiro wallet at hiro.so/wallet.
You can learn more and follow a few short steps on this blog post.