Its really all about scarcity of supply.

What does nft stand for in music. Each NFT is exclusive to its owner. Fungible means interchangeable so it can be replaced by something of equal value. A non-fungible token is unique and cannot be traded one-to-one.

NFT stands for Non-Fungible Token. So what are NFTs anyway. Lets get straight to the point.

You are a Designer or Artist and want to know about NFT in the easiest way without any hurdles. Heres everything you need to know about NFTs and what they mean for artists. Exchange - NFT exchanges take place in cryptocurrencies such as Bitcoin on specialist sites.

Like a dollar bill. WTF does fungible mean. NFTs have the potential to bring some value back to music.

A dollar bill equals 1. Unique - It cannot be forged or otherwise manipulated. Assets such as bitcoin and money are fungible because they are the same and completely interchangeable.

NFTs on the other hand are basically limited-edition digital assets that come pinned to another piece of artwork be it an image or a piece of music. NFT stands for non-fungible token Excuse me. A non-fungible item is a unique digital asset that isnt interchangeable.