NFT

What is an NFT?

NFT stands for Non-Fungible Token. It’s a unique digital asset, verifiable on a blockchain, representing ownership of something, such as digital art, collectibles, music, or even virtual real estate. Unlike cryptocurrencies like Bitcoin (which are fungible – one Bitcoin is equivalent to another), NFTs are one-of-a-kind and cannot be replaced with something identical. NFTs use blockchain technology to ensure authenticity and scarcity, creating a transparent and secure record of ownership. Examples include unique digital artwork sold for millions of dollars, collectible virtual trading cards, and in-game items with verifiable ownership.

Q&A

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