A non-fungible token (NFT) is a type of authenticity certificate that certifies that a person owns a digital asset such as (digital art, a video, a GIF, or even an audio). “Non-fungible token” is a crypto-economy that represents, in digital form, products and services from the physical (or digital) world. “Fungible” designates a good that can be interchangeable, exchanged for another identical or of the same value. A ten-dollar bill can be exchanged for the same bill or for two five-dollar bills. Therefore, non-fungible means something that cannot be fractioned or exchanged – precisely because it is a unique token. In other words, NFTs are unique digital assets that contain data ownership information recorded on a blockchain, often used to scan and tokenize digital items such as art, collectibles, or game items. In general, NFTs are held on the Ethereum blockchain, but other blockchains, such as Flow, also support this type of token. Briefly, blockchain technology is a system that allows you to track the sending and receiving of some types of information over the Internet. It works like a digital ledger that carries connected information – like blocks of data that form a chain – hence the name. How does NFT work? NFT (non-fungible token) is a digital signature registered in the Blockchain, the same Blockchain technology that registers and validates the use of cryptocurrencies. These t...
