crypto, NFTs are also gaining traction in the overall global market.
- Experts say the
NFTmarket is still small but investors are showing keen interest.
- The global market for NFTs in December last year 2021 ballooned to $41 billion value, according to blockchain data company Chainalysis.
- Those who have a keen interest in the digital asset world can dip their toes with some of these online courses.
While the market of crypto has been bathing in red since the new year, the NFT market has also been thriving in India as Indian celebs from Bollywood actors like Salman Khan, Amitabh Bachchan to Indian cricketers like Rishabh Pant have forayed into this world of the digital asset.
What are NFTs?
In layman’s terms, NFTs are digital assets that are bought and sold online mainly with cryptocurrency. Anything from drawing, simple selfies, music, art, or even a tweet, which can be converted into digital form can be an NFT.
This digital asset is not a new invention or concept. The concept of NFTs was introduced back in 2014, however, it has now gained momentum late in the global market.
Are NFTs and cryptocurrencies the same?
NFTs are generally encoded with the same software as used for cryptocurrencies. However, cryptocurrencies are fungible — which means they are traded or exchanged for one another.
However, NFTs are non-fungible, which means that the value of one NFT is not equal to another NFT and cannot be used as a medium of exchange.
Global NFT market is booming
The rising interest of celebs and rich entrepreneurs has fuelled the surge in sales of NFT to $25 billion in 2021,
according to the market tracker app DappRadar, which collects data from ten different blockchains.
According to the numbers collated by The Block Research,
NFT trade volume jumped nearly three-fold in the month of January to $6.86 billion from $2.67 billion in December.
The global market for NFTs in December last year 2021 ballooned to $41 billion value, according to blockchain data company Chainalysis. This number went down from $50 billion in 2020 due to the COVID-19 pandemic.
Experts say the NFT market is still small but investors are showing their keen interest. “NFTs are here to stay. The user adoption is really good although it can be complicated for a layman and difficult to buy,”
said Sandesh Suvarna, VP at WazirX NFT Marketplace.
If you’re one of the many people out there looking to diversify your investments and dip your toe in the NFT market, doing your own research (DYOR) is imperative. The surge in the popularity of cryptocurrencies and NFTs has also given birth to several scams and fraudulent schemes that could lead to huge losses if one is not careful.
Those who have a keen interest in the digital asset world — from the basics of NFT to how one can buy and trade NFTs — can go through the online courses listed below to gain a clear understanding of the market.
These are some short term free online courses for anyone interested in the field with no eligibility criteria —
Introduction to NFTs: Non Fungible Tokens by Linkedin Learning
Estimated duration — 1 hour
course is for beginners and provides a comprehensive and in-depth overview of the fundamental concepts of NFTs. This course explains exactly what NFTs are—including their basis in the blockchain—and how you can create your own NFTs using a cryptocurrency platform like Ethereum.
The Ultimate NFT class 2022: Buy, Sell, create and trade NFTs by Skillshare
Estimated duration — 5 hours 51 min
Unlike other courses, this
one is not a theory-based course. This NFT course will teach you how to buy, sell, create and even trade NFTs with real-life examples. From the basics of NFTs — how do they work — to how to trade NFTs in the marketplace — the course will cover everything.
3. The Complete NFT course — Learn everything about NFTs by Udemy
Estimated duration — 4.5 hours
course includes all you need to know to get involved in the fast-moving NFT world. Other than buying and selling, this course will also teach you how to create NFTs, step-by-step.
Generate daily profits using NFTs by Udemy
Estimated duration — 4.5 hours
This is a
masterclass course on making profits from NFTs. This course will contain several thoroughly detailed steps that will help you on your journey of creating profits out of thin air, using these NFTs. It contains strategies, tips, and tricks that will help you make profits.
5. Decentralised Finance Primitives by Coursera
Estimated duration — 6 hours
course will talk about transaction mechanics and introduce both fungible and non-fungible tokens or NFTs. The course also explores supply adjustment which includes the minting and burning of tokens.