NFT (Day 1 )
NFT (Day 1 )

NFT (Day 1 )

NFT is the most talked about topic in the tech world today, they stand for Non-Fungible Token, which implies a token that is not fungible, which means it is a unique thing. It’s like when we generate an NFT it always represents a unique digital space. That digital space has an address that is held by Blockchain. Blockchain is a technology to have a unique address in a decentralized way so that everyone can have it. So to sum all this up NFT is a uniquely generated, decentralized token that can be used to hold uniquely defined assets. We will look into it more as we will move forward on our journey of understanding NFT. 

What is NFT? (If you are not a techie)

If you are not a technical person and have no idea about blockchain and all, then you will not understand the above paragraph. So in general words, if you want to understand NFT then here is an explanation. If you are a fan of any artist, take Leanardo Da Vinci, he has created so many amazing art like Monalisa, now suppose in the error of such tech anyone can recreate the same art again and again. But not all of them will be worth as much as the original one. Which means that is limited. So are the limited edition shoes or any other physical thing that we could think of that can be expressed uniquely? But when it comes to digital data, there are endless copies of the same software same image same video, and you have no idea which one is the first one. So, in this case, there is a token that is unique and can hold the digital asset so that when you will generate an address you can also upload it as an NFT, and then it will be uniquely defined. In that case, we can track the originality of a digital asset as well. 

For now, NFTs are only used to hold digital art. Here is an NFT image. That has a value of more than a million dollars. I know Crypto is insane. But that’s how the word works 😛 

So this is an original image art as an NFT. You can also create your own art and upload it as an NFT, and sell it also on online available marketplaces. The will be more Details about NFT stay tuned for our site. 

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