Modern finance systems provide complex trading and leasing systems for a variety of asset categories including real estate lending contracts and artwork.

What is non fungible token. The word fungible means interchangeable so assets categorized as NFTs simply cannot be exchanged as like-for-like entities on any particular network. From the GIF of a cat leaving behind a rainbow trail to the first tweet in history passing through a digital painting made up of 5 thousand images. Access to any copy of the original file however is not restricted to the buyer of the NFT.

Still also videos and music. The non-fungible token contains unique identifying information represented in the smart contracts and immutably recorded on the tokens blockchain. Because each NFT is stored on a blockchain there is an immutable record starting with the tokens creation and including every sale.

Non-fungible tokens or NFTs are digital assets that are indivisible and provably unique. Today on the Internet everything you create can be sold in the form of NFT. In economics a fungible asset is something with units that can be readily interchanged - like money.

Non-fungibility is a desired asset when your token is a collectible and gains its values from its uniqueness. The NFTs are digital assets that are unique creating digital scarcity. NFTs can be used to represent items such as photos videos audio and other types of digital files.

NFTs are built on blockchain technology making them very secure. Some NFT-focused developers have also built their own alternative blockchains including Dapper Labs. While copies of these digital.

There are many different types of NFTs such as CryptoKitties CryptoPets and CryptoCelebrities. And after Christies auction house sold the first. NFT stands for non-fungible token.