What is an NFT ?

The invention of NFTs brought proof of authenticity into the digital world. This meant that digital assets could be proven, safe, and part of the public record. They're becoming more valuable because of this.

Non-fungible means that each item is unique and can't be replaced. Things in the real world don't change. Homes, paintings, cars and baseball cards are all one of a kind. They can't be changed, therefore are non-fungible.

Many different blockchains can be used to buy and sell NFTs, some of those blockchains being Ethereum, Flow, and Tezos. Platforms such as these store the unique identifier for an NFT across a secure and distributed network, making its ownership and history safe, verifiable, and making it a part of the public record, as well.

The world of NFTs is still young. There are multiple types of NFTs, even though digital art is the most common. NFTs now include tweets, memes, music videos and invention patents. As you can see, practically anything can be an NFT.

How NFTs Work