How Are NFTs Used?
Non-fungible tokens (NFTs) can be used for digital assets or goods that are different from each other to prove their worth and rarity. They can represent and provide digital acceptance to everything from virtual games to artworks etc.
Non-fungible tokens are not traded on standard and traditional exchanges, instead, they are purchased or sold on digital arena or marketplaces.
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Non-fungible token (NFT)
- In economics, a fungible asset is like money - it is something with units that can be interchanged. With money, a $10 can be exchanged for two $5, and it still has the same value.
- If something is non-fungible, it has unique properties and cannot be i...
How NFTs work
Traditional art is valuable because they are unique. But digital files can be duplicated.
With NFTs, artwork can be "tokenised" - a digital certificate of ownership that can be bought and sold. A record of who owns what is stored on a shared ledger known as...
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