To answer What is NFT question, read the definition below:
The word “NFT” stands for “Non-Fungible Tokens“; This means that they have unique value. In other words, each NFT token has a special feature that distinguishes them from each other.
Assets such as digital arts, physical arts, soccer players, video game characters, and so on are among the assets that can be valued and sold in the form of NFT tokens.
Assets in the economy are defined as Fungible, one unit of which is not less valuable or more valuable than each other. For example, the dollar currency: each $ 1 banknote has no value difference compared to another $ 1 banknote and is completely Fungible.
Assets such as historical paintings are Non-Fungible assets. The reason for naming it Non-Fungible is the unique value of these assets.
As you read, the concept of NFT tokens is clear to you. For example, a person buys a painting of the Mona Lisa and auctions its value for exchanges in the form of NFT tokens! Or the value of the Barcelona football team can be bought and sold in the form of NFT tokens, and if the team performs well, the value of the token will experience an upward trend!
Initially, with the advent of NFT tokens, only ERC-721 tokens were available on the Ethereum network. NFT tokens are currently implemented in various blockchains.
Blockchain technology is simply a digital notebook for recording information. The information recorded in the blockchain network is shared among all computers connected to the network, so no one can hack or manipulate the network information.
The industry of NFT tokens and NFT exchanges is expanding rapidly, and now (2021) after the DeFi industry, NFT projects are receiving one of the largest waves of capital raising among cryptocurrencies. Here are some ways to invest in the Non-Fungible assets industry, stay tuned.
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