10 σειρές What is NFT Non-Fungible Token.

What exactly is a non fungible token. A Non Fungible Token is a token just like a cryptocurrency token that represents ownership of a non-fungible asset on the blockchain. While the things that are eligible for NFT treatment overlap a great deal with what can be copyrighted buying an NFT does not actually confer copyright ownership. First the word fungible.

The non-fungible asset that the token represents can be anything a real-world tangible item such as a car or a house or a virtual non-tangible item. These tokens are analogous to non-fungible real-world items like cars baseball. An NFT is a unique cryptocurrency token representing an.

They can be used to represent both tangible and intangible items. Non-fungible tokens or NFTs are pieces of digital content linked to the blockchain the digital database underpinning cryptocurrencies such as bitcoin and ethereum. The Oxford dictionary defines fungible as.

Non-fungible tokens NFTs are created through a similar process as fungible tokens like Bitcoin - a blockchain-based token with unique data that determines the characteristics of the NFT is created. What does that mean. An NFT can be anything that you can think of drawings animation music videos even virtual in-game items.

Hence non-fungible tokens are digital representations of unique one-of-a-kind assets that cannot be replicated. However unlike fungible tokens NFTs can only exist on the blockchain in one instance at a time. But what exactly is a non-fungible token.

Non-Fungible Tokens or NFTs are unique cryptographic tokens that cannot be replicated. In many ways non-fungible tokens NFTs represent an entirely new type of intellectual property. The NFTs are digital assets that are unique creating digital scarcity.