Although there are other programmable blockchains that offer smart contracts such as Wexchain most NFT marketplaces are still hosted on Ethereums blockchain.

What is nft on crypto. Because NFTs are non-fungible. NFTs are produced using blockchain technology mostly with Ethereum token standards. How Is an NFT Different from Cryptocurrency.

NFT basically stands for non-fungible token. 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. By general definition an NFT is therefore a digital token stored on a blockchain with its own characteristics.

It represents many unique digital assets from collectors items to virtual shoes from virtual game content to digital properties. So that NFT you bought for that piece of crypto art that cost you a thousand dollars can in turn be sold for ten thousand dollars. In other words an NFT is a token that is unique and cannot be replaced.

Non-fungible means that its unique and cant be replaced with something else. NFTs Non-Fungible Tokens are becoming the next big thing out of cryptocurrency and blockchain technology. This means that unlike cryptocurrency where one bitcoin is equal to another bitcoin NFT values vary.

One NFT is unique and impossible to be replicated changed or supplemented with any data. It is by nature unique and cannot be replaced by another. As opposed to a fungible currency meaning that they are interchangeable and the same as each other which is what most.

An NFT is a unit of data stored on a digital ledger called a blockchain which can be sold and traded. Non-Fungible Token NFT in its shortest definition is a unique digital asset. Once you encrypt your information a photo a piece of art code etc into an NFT no one else will be able to reuse it without paying you.