Disclaimer: I am not a lawyer and any legal assumptions I make here could be wrong. Nothing in this post is financial or investment advice.
1. An NFT shows "ownership" over digital content such as images, videos, articles, etc. Owning an NFT requires a wallet associated with a blockchain such as Ethereum.
I put ownership in quotes because usually, an NFT itself, which is usually nothing more than a hash of the actual content, probably would not be legally considered equivalent to the actual work, and protected by copyright law.
However, on-chain NFTs could qualify as copyright protected works. However, if you can prove you created the original content
prior to uploading it as an NFT, this could serve as legal copyright proof.
2. Just like how open source code can have different types of licenses, so can NFTs
Many NFT minters however, choose not to include a license. Here are two available licenses.
3. Unlike 1 bitcoin, which is fungible (non-unique with other bitcions), 1 NFT is non-fungible
In other words, there is only one owner of the NFT. It is expected that no two NFTs will be equivalent.
Otherwise, that defeats the purpose.
4. NFTs grant you the exlusive the right to resale of the NFT and are viewed by enthusiasts high risk, high reward investment.
6. It is extremely expensive to mint NFTs on ethereum (just opening a store can cost over $1,000)
Tron also supports NFTs. Cardano promises to lower the fees of minting NFTs by using a more efficient blockchain and native NFT support.
7. How artists can make money from NTFs
Minters charge high prices for their NFTs to justify the fees. Some types of NFTs pay the minter royalties on each future sale of the NFT.
8. The blockchain stores the hash of the content tied to the owner's private key. The content of an NFT is usually stored off-chain by the company, artist, or game that created it. But could be stored in IPFS, a decentralized file system.