NFTs (Non-Fungible Tokens) are digital assets that represent ownership of unique items or creations. They are stored on the blockchain, which allows for secure and transparent transactions. NFTs are becoming increasingly popular in the art world, gaming, and sports industries as a way for creators to monetize their work and for collectors to own unique digital assets.
The cost of starting an NFT business in Nigeria can vary depending on the specific business model. For example, starting an NFT marketplace or platform can require significant investment in development and marketing, while creating and selling NFTs as an individual artist may require minimal capital.