A non-fungible token (NFT) is a way of proving that a digital item is the only one of its kind in existence and therefore cannot be copied or reproduced without the owners knowledge and consent. NFTs can be considered modern-day collectibles. They're bought and sold online, and represent a digital proof of ownership of any given item. NFTs are securely recorded on a blockchain.
Technology[change | change source]
NFTs use the same blockchain technology used by crypto currencies like bitcoin to keep a ledger, that is a permanent record of all tokens and who owns them. Each entry is unique. NFT Marketplace as Opensea is a Digital Arena where NFTs (Digital Collectibles) are listed.
Usage[change | change source]
References[change | change source]
- "Non-fungible tokens aren't a harmless digital fad – they're a disaster for our planet | Adam Greenfield". the Guardian. 2021-05-29. Retrieved 2021-06-02.
- "Where's the Future of NFT Headed?". Retrieved 2021-10-12.
- Sharma, Rakesh. "Non-Fungible Token (NFT)". Investopedia. Retrieved 2021-06-02.