What can I do with an NFT? Are they tradeable?
NFTS come in all shapes, sizes, and even use
cases. Purely collectible digital art NFTs are pretty
limited in what you can do with them. You can
trade them, of course, but an NFT of a photo isn't
much different from a regular print in terms of
utility.
Still, some NFTs have actual uses in games, like
the famous CryptoKitties on the Ethereum
blockchain. In this case, a collectible cat can
breed to pass its traits down onto new cats.
NFTs are commonly used by financial platforms
too. There is a massive market for PancakeSwap's
NFTS that are artistic and convertible into (PancakeSwap's)
NFTs that are artistic and convertible into
cryptocurrency. This unique combination means
that people can speculate on the future price of
the cashable amount.
These NFTS all have in common the ability to trade
them for different digital assets. This means you
can buy or sell NFTs using ETH, BNB or other
cryptocurrencies. Still, each piece of NFT is
unique (i.e., they are not interchangeable)
