What is NFT - Non fungible tokens

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Metastarship Estate

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*what is an NFT?*

An NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.
Although they’ve been around since 2014, NFTs are gaining notoriety now because they are becoming an increasingly popular way to buy and sell digital artwork. A staggering $174 million has been spent on NFTs since November 2017.
NFTs are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. “Essentially, NFTs create digital scarcity,” says Arry Yu, chair of the Washington Technology Industry Association Cascadia Blockchain Council and managing director of Yellow Umbrella Ventures.
*Another definition*

*An NFT means non-fungible tokens.*

To understand this better we have to break down the key words:
*FUNGIBLE* : fungible means something is able to be exchanged or substituted and will hold the same value. This means that fungibles are interchangeable for example I borrow you $10 through bank transfer and while paying back, you gave me back the $10 but now in cash. This means that the value of the money didn’t change.
*NON- FUNGIBLE* : it's an asset that can't be substituted or changed because it has unique attributes that make different from something else. For example: A unique digital art work, an in game item etc.
*TOKENS* : a thing serving as a visible or tangible representation of a fact, quality, feeling, etc.

*NFTs* : nfts are non-fungible tokens and refers to a digital certificate stored on a secure distributed database called a blockchain. So nfts are digital assets publicly verifiable intellectual property authenticated on a blockchain.
 
nftdistrict

nftdistrict

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NFT is gaining popularity nowadays. It can neither be replaced nor interchanged because it has some unique properties.

You have explained it very well in this post. For more updates about it, you may also visit- NFT district
 
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Harry

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Я видимо, как и многие здесь, ждал выхода этой игры. Но в итоге ничего не продвигается. Вот почему лучше разрабатывать собственные игры, бизнес-приложения или просто для развлечения. С этим, кстати, может помочь компания https://servreality.com/nft-blockchain/nft-game-development.html . Они могут сделать любой проект, о котором вы только можете подумать. Нет ничего невозможного.
 
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kevinike

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I find the concept of non-fungible tokens (NFTs) fascinating! It's incredible how blockchain technology has revolutionized the way we perceive and trade digital assets. NFTs have opened up a whole new world of possibilities, enabling artists, creators, and collectors to tokenize and sell unique digital items. The ability to prove ownership and authenticity through blockchain provides a level of transparency and security that was previously unimaginable. I'm excited to see how NFTs continue to evolve and shape the future of digital ownership.
 
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