NFTs
NFTs, or non-fungible tokens, are a type of digital asset that are unique and cannot be replaced. They are typically used to represent digital art, collectibles, and other unique digital assets. NFTs are built on blockchain technology and can be bought, sold, and traded like physical assets.
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The Metaverse, Web3, and NFTs are all concepts that are rapidly evolving in the world of blockchain and cryptocurrency. Each of these are changing the way we use the internet and creating new opportunities for innovation and creativity.
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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...
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...
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.
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