The exponential growth of NFTs in recent years shows that this digital version of stamps, art or any other tangible or intangible product to which a number of users end up conferring a value has become the new normal.
Therefore, more and more people want to know how to check the current price of their NFTs, although to do so it is first necessary to know the meaning of some concepts on the subject.
What are non-expendable property?
Before understanding what NFTs are, it is important to know the difference between fungible goods and non-fungible goods. The former can be exchanged, having a value based on their number, measure or weight, such as a 10-dollar bill.
In the case of non-fungible goods, they are not substitutable, as is a work of art, since it is not consumed when used, nor is it equivalent to another, and therefore cannot be exchanged or substituted.
What are NFTs?
NFT stands for Non-Fungible Token, units of value that are assigned to a business model, such as cryptocurrencies, although the NFT is a non - fungible good, while a bitcoin is a fungible cryptocurrency.
How are NFTs tracked and verified?
To track and verify NFTs, blockchains are needed, which are composed of collecting all transactional data and storing it in blocks indefinitely and available for public viewing and verification.
With each transaction on the blockchain, that data is gathered into a block, which once filled to capacity joins the previously formed block, records that allow anyone to verify an NFT transaction.
How to track and check the price of NFTs?
To track and verify your own NFT transactions, whether you bought or sold an NFT, you can go to Etherscan.io, to search by address, transaction hash, block, token and ens, while sites like CryptoSlam.io allow for NFT sales history, collection rankings, market data and specific projects.
Also, NFTs current price today is $0.182578 with a 24-hour trading volume of $232,482 and NFT is up 5.54% in the last 24 hours, according to CoinMarketCap.com.
