What is NFT?

About NFT

What Is NFT?

Tokens called NFTs can be used to signify ownership of unique items. These tokens can be used to tokenise items such as art, collectibles, and real estate. They can only be owned by one person at a given time. The Ethereum blockchain secures them – no one can alter the ownership record or copy/paste new NFTs into existence.

NFT stands for non-fungible token. Non-fungible can be used to describe items such as your furniture, your song file, and your computer. Because they have different properties, these items cannot be interchangeable with other items.

Fungible items can, however, be exchanged as their value is more important than their unique properties.

One example is ETH and dollars.

1 USD = 1 ETH.

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