NFT
An NFT is a non-fungible token and NFTs a have revolutionized the art world by enabling unique digital assets to be bought, sold and traded as unique collectibles.
The NFT market has seen tremendous growth, with sales totaling in the hundreds of millions of dollars.
NFTs have opened up a new frontier of ownership, authenticity and scarcity in the digital realm.
They allow artists and creators to monetize their work in new and innovative ways and offer collectors the chance to own one-of-a-kind digital assets.
NFT Features
Here is a list of the features and capabilities of NFT tech:
- Unique ownership: NFTs allow for the ownership of one-of-a-kind digital assets, providing a new level of scarcity and authenticity in the digital world. Decrypt
- New monetization opportunities for creators: NFTs provide artists, musicians and other content creators with new and innovative ways to monetize their work. See: Cointelegraph
- Verifiable provenance: NFTs are stored on a blockchain, providing an immutable record of their ownership history and authenticity. Blockgeeks
- Open market: NFTs can be bought, sold and traded on a global market, providing new opportunities for collectors and investors. Coindesk
- Flexibility: NFTs can represent anything from art to real estate to virtual real estate in video games, offering a wide range of possibilities for the technology. Wikipedia
Important NFT Concepts
Minting is the act of creating an NFT and publishing it on a blockchain.
NFT Marketplaces enable the buying and selling of NFTs.>