What is NBA Top Shot.

What is an nft basketball. Learn more about what they are and how they work in this guide. A non-fungible token or NFT is a cryptographic digital token which is not interchangeable in sharp contrast to cryptocurrencies such as Bitcoin that are essentially interchangeable or replaceable or fungible. The First 5000 Days which sold for the equivalent of 70million.

An NFT can be anything from music artwork basketball cards or even a. What Can NFTs Be. Basically it is a smart contract that is put together using bits of open.

NFT stands for a non-fungible token which means it can neither be replaced nor interchanged because it has unique properties. Items that have recently been minted as NFTs include. The cards feature art andor video clips highlighting noteworthy events in the NBA.

In the not-so-distant future your ticket to an NBA game could be an NFT. How do NFTs work. A marketplace that sold clips of basketball.

Blockchain is an online list containing information that can be used and shared within a large network open to the public. The company created digital basketball cards that can be bought and sold virtually. A NFT non-fungible token is data added to a file that creates a unique signature.

Today hes the founder and CEO of blockchain company Ethernity Chain which recently partnered with Lionel Messi to release an authentic NFT collection. Ownership of an NFT is recorded on a blockchain network one of the distributed digital ledgers that underpin cryptocurrencies such as bitcoin. While most of the hype is on digital artwork and trading cards NFTs can also be used to digitally represent physical objects.