What does non-fungible token mean.

What does nft mean music. Well it helps to first understand what a Fungible Token is. Basically an NFT is a unique digital certificate of ownership. What Does a Live Gig NFT Mean for the Music Industry.

This is what Wikipedia says but in easy words what does it mean. An NFT is a non-fungible token that represents ownership of a digital asset such as a song photo video clip or digital artwork. No worries keep reading.

It can essentially be anything digital from the audio file to an unreleased song and digital artwork to a video or 3-D sticker. They are bought and sold online routinely with cryptocurrency and they frequently encode with the same underlying software as numerous cryptos. Okay that just complicated it further didnt it.

NFTs are like Music Streaming on Steroids Back in the day when Napster turned the entire music industry on its head musicians saw their royalty revenues plummet. They are sort of like a digital certificate of authenticity or proof of ownership of a digital artwork. To understand this even better lets look at Non-Fungible.

An NFT which stands for Non-Fungible Token is a unique digital asset stored on the blockchain. Digital Asset - NFT is a digital asset that represents internet collectibles like art music and games with an authentic certificate created by blockchain technology that underlies Cryptocurrency. What Is an NFT.

A digital artifact that reflects real-world assets such as art music in-game goods and videos is known as an NFT. So lets dive into the world of NFTs to explain WTF they actually are what they mean for the music industry and how musicians can start selling them. But what does that mean.