Ethereum NFT: What They Are, How They Work, and What’s Really Happening

When you hear Ethereum NFT, a unique digital token stored on the Ethereum blockchain that proves ownership of a digital item like art, music, or virtual land. Also known as ERC-721 token, it doesn’t just sit in a wallet—it’s used to claim access, trade value, or prove you own something no one else can copy. Unlike Bitcoin, which is about sending money, Ethereum NFTs are about proving you own something specific—like a pixelated ape, a song, or a piece of virtual real estate.

These tokens run on Ethereum because it’s the only blockchain that lets developers build custom digital items with real ownership rules. That’s why most NFTs you’ve heard of—whether from CryptoPunks, Bored Apes, or even a digital sneaker—are built on Ethereum. But not all NFTs are equal. Some are just JPEGs with hype. Others unlock real utility: access to private Discord groups, royalties from resales, or even physical goods. The NFT marketplace, a platform where these tokens are bought, sold, or traded, often using Ethereum as the base currency is where this all plays out. And while OpenSea used to dominate, newer marketplaces are popping up with lower fees, better tools, and smarter ways to verify what’s real.

Then there’s the NFT airdrop, a free distribution of tokens to wallet holders, often used to launch new projects or reward early supporters. You’ll see these tied to games, communities, or even meme coins. But most are scams. If someone tells you to send ETH to claim a free NFT, they’re not giving you anything—they’re stealing your money. Real airdrops ask for nothing but your wallet address. And yes, some of the posts below expose exactly which ones are fake, which ones still have value, and why some projects vanished overnight.

What you’ll find here isn’t theory. It’s real cases. From a football-themed NFT drop that gave away 140 digital items, to a crypto coin built on Ethereum that rewards holders with political meme tokens, to a gaming NFT airdrop that actually paid out. Some of these projects are dead. Others are quietly alive. And a few? They’re still changing how people think about ownership online. You won’t find fluff here. Just what’s working, what’s not, and what you need to know before you click ‘buy’ or ‘claim’ on the next Ethereum NFT.