HOMEWORK TASK: NFT (SUPERRARE) SUBMITTED BY @ayomide1110 (100% power up)

To begin, the term "NFT" stands for "non-fungible token." The term “non-fungible” refers to an object that is one-of-a-kind and cannot be replaced by another. The idea is that you own a digital asset with a blockchain-based certificate of authentication, such as images, videos, audio, and other digital "objects." However, simply owning the NFT does not imply that you hold the copyright. The item is still available for sharing and posting online. “You are given a token that reflects something, such as the rights to a music track that you perform. You have a cryptographic proof, create a token based on it, and now if anyone in the world uses this track, you have a smart contract that really tracks who uses it...and keeps track of the rights and royalties that are allocated to the artist.”

HOW NFT WORK
Since NFTs are part of the Ethereum network, they are independent tokens with additional details contained in them. The key aspect is the extra material, which helps them to take the form of art, music, video (and so on), in the form of JPGs, MP3s, photographs, GIFs, and more. Since they have value, they can be purchased and sold much as all forms of art – and, as with physical art, the value is primarily determined by the supply and demand.
However, this does not imply that there is only one digital edition of an NFT art available on the market. Copies of an NFT are still true pieces of the blockchain in the same way as art prints of an original are made, used, purchased, and sold – but they do not have the same value as the original.
Don't think you've cracked the machine only because you right-clicked and saved an NFT file. That won't make you a millionaire because your downloaded file lacks the details required to be part of the Ethereum blockchain.
Now that we know what NFT is I would like to talk about a NFT called SuperRare. SuperRare is a blockchain-powered social network for art designers and enthusiasts.

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WHAT EXACTLY IS SUPERRARE?
In the world of collectibles People want the real thing in the world of collectibles, and they are happy to spend a lot of money for it. And where there is big money, there is also bribery, forgery, and general misbehavior. Using the Ethereum blockchain, the whole history and roots of a work of art can be traced on a public database that no one owns and that anybody can use.
SuperRare was founded in 2017 by John Crain, Charles Crain, and Johnathan Perkins. On the SuperRare site, artists create a work of art and tokenize it, which means they associate the art with a token. It's not just any token; the modern digital art is inextricably bound to a Non-Fungible Token (NFT). This particular Ethereum token is as one-of-a-kind as the artwork itself.
Once the NFT is on SuperRare, it can be purchased, leased, or even HODLed as a long-term investment. Artists may either bring their work up for sale or sell it for a fixed price. Once sold to a customer, the NFT can be resold at any price on a range of NFT trading sites.

WHAT SUPERRARE DIFFERENT
SuperRare is a forum where digital art collectors can interact and collect–what they term "social collecting." The concept behind SuperRare is the conviction that collecting is fundamentally social, and that collectors and artists should be able to comfortably engage around their mutual interest. Users will see who the top collectors and trending artists are, how many items they've purchased or made, and how many ETH they've spent or accumulated on the site. You can still see the artwork itself, as well as a summary and a history of previous owners.

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HOW ARE SUPERRARE TOKENS PRODUCED?
While anybody can buy and keep Ethereum tokens, such as the NFTs used by SuperRare, only artists who have been invited to the platform can produce artwork. To apply to join the network as an artist, fill out an application with the condition that all artwork made for SuperRare be original, created by you, interactive, and not tokenized anywhere on the internet.
HOW CAN YOU OBTAIN SUPERRARE ART?
Since any SuperRare purchases must be made with Ether, users must first purchase Ether, which can be done on any cryptocurrency exchange. Users would need to bind to the SuperRare network using MetaMask in order to communicate.