What is an NFT?

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I’m seeing this everywhere, but I’m not sure I understand the concept.

In: Technology

9 Answers

Anonymous 0 Comments

NFT stands for non fungible token. It’s a term that is used for cryptocurrency like assets that instead of having the same value (1 BTC is the exact same as any other BTC), have unique attributes tied to them. They also generally can’t be divided into pieces like currencies.

Like cryptocurrency you can transfer ownership of them from one place to another, and there are rules established for how they can be generated, and used.

One thing to look into is cryptokitties which is a big example of one of the first major NFTs.

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