What Is a Non-Fungible Token (NFT)?
Non-fungible tokens (NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.
Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can serve as a medium for commercial transactions.
Key Takeaways
- NFTs (non-fungible tokens) are unique cryptographic tokens that exist on a blockchain and cannot be replicated.
- NFTs can represent real-world items like artwork and real estate.
- “Tokenizing” these real-world tangible assets makes buying, selling, and trading them more efficient while reducing the probability of fraud.
- NFTs can also function to represent individuals’ identities, property rights, and more.
- Collectors have sought NFTs as their value initially soared, but has since moderated.
This few days I have been explore more in-dept into the NFT and at the same time buy & mint some NFT. At this point of time, I am on Pentas, OpenSea. (Might be go for other Marketplace with different Network)
I am verifying my profile at @pentas_io
0xC94EF04223e8e2C062eCaF2E9400f32A714e560b#Pentas #NFT https://t.co/o0T6xWcYYg— Chongyi (CY), Lim (@cylim87) September 7, 2022
Check out this account on OpenSea https://t.co/GCnPeFhmuq via @opensea #OpenSeaNFT #openseaartists #openseaart #OpenSeaCollection #openseanfts
— Chongyi (CY), Lim (@cylim87) September 10, 2022
Most of the photoshoots available are unique and won’t be available in other network. (All photoshoots NFT owner will get RAW and original JPG file with metadata) However, all of my artwork will be available across network.