Quick overview of an NFT - Deepstash

Quick overview of an NFT

  • NFT's  (non-fungible tokens) are digital tokens that are stored on a blockchain.
  • In cryptocurrencies, each coin is the same, whereas, each NFT is unique. NFTs can be sold as a way to prove ownership of a digital file.
  • The files are not stored on the blockchain. Instead, a link to the file is stored along with the token that acts as proof of ownership.
  • You can have two or more NFTs for the same file. For example, an NFT can be rare because there are only 10 copies or it can be common because there are hundreds of the same NFT that have been "minted."

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This article explains the basics of NFTs and then explores how to create an NFT using two of the most popular marketplaces. It is meant to be a brief guide to help you get started.

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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...

What is an NFT?

What is an NFT?

NFT stands for Non-fungible token.

  • cannot be exchanged/replicated/replaced because they are unique.
  • allows you to buy & sell ownership of unique digital assets.

Non-fungible token (NFT)

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...

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