What is a non-fungible token?

2024-04-17 17:45:21 Views

  A non-fungible token (NFT) is a digital asset with markers that make it unique and, through the use of blockchain technology, ownable by only one person at a time. NFTs can be artwork, collectibles, virtual real estate, or any media file that can be assigned a unique digital identifier and placed on a blockchain.

  Human beings naturally find rare objects valuable, andNFTsguarantee authenticity and ownership, making them rare, useful as status symbols, and convertible to cash viacryptocurrency. After NFTs are put on ablockchain, which acts as a digital ledger, they can't be copied.

  You can make your own NFT out of any digital format, such as audio, video, or GIF. Most people creating NFT art start with digital 2D artwork. Learning how to make NFTs is not only fun but could be lucrative if your NFT catches the eye of collectors.

  Disclaimer: Includes third-party opinions. No financial advice. See Risk Warning.
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Title:What is a non-fungible token? - Q&A
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