What are NFTs?
NFTs (Non-Fungible Tokens) are unique digital tokens that represent ownership or provenance of a digital asset, such as artwork, videos, music, or other digital content. NFTs utilize blockchain technology to ensure authenticity, traceability, and transaction security.
What does
“non-fungible”
mean?
The term “non-fungible” means that each token is unique and cannot be replaced with another of the same value. Unlike cryptocurrencies, which are fungible and interchangeable, NFTs represent distinct digital assets with unique characteristics that make them non-replicable and non-substitutable.
What is
blockchain?
Blockchain is a distributed ledger technology that enables secure, transparent, and immutable storage and sharing of data. It consists of a series of interconnected blocks, where each block contains data and a reference to the previous block, creating a chain of blocks.
What are the advantages of owning an NFT?
Owning an NFT offers several advantages, including:
- Verifiable ownership and authenticity
- Potential for monetizing content
- Global market and accessibility
- Transferability and liquidity
