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  • What is an NFT
What is an NFT

NFT which stands for non-fungible token is generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends.

Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another.

Traditional works of art such as paintings are valuable because they are one of a kind. But digital files can be easily and endlessly duplicated. With NFTs, artwork can be “tokenised” to create a digital certificate of ownership that can be bought and sold. Will digital-only trading cards replace physical ones?

NFTs are becoming the next big thing out of cryptocurrency and blockchain technology. Many artists and digital art creators are interested yet there is a slight learning curve.