NFT stands for Non-Fungible Token.
Fungible is a weird word, right? So what does it mean? Something that is fungible, can be replaced. Something that is non-fungible can not be replaced.
Most NFT’s are actually digital artwork.
This means the artwork is created and can only be seen digitally, on a computer or electronic device like VR goggles.
Recently people have developed a way for these electronic artists to sell their work using it as an NFT.
The NFT is a way that proves that the artist’s digital artwork is the only one of its kind anywhere in the world. This means it cannot be copied or reproduced without the owner’s knowledge and approval.
And an NFT is the unique digital token that proves ownership to those items like digital art, which again, cannot be copied.
At the time of this video, NFT’s are no longer just pieces of digital art, or JPG images. They have actually become much more than just digital pieces of art.
Many NFT companies or NFT projects are also parts of video games, movies, celebrities, and more.
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