What are NFTs?
A Non Fungible Token (NFT) is a unit of data stored on a digital ledger, called blockchain, which can be sold and traded. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright. The NFT can be associated with a particular digital or physical asset (such as a file or a physical object) and a license to use the asset for a specified purpose. NFTs and the associated license to use, copy or display the underlying asset can be traded and sold on digital markets.
NFTs function like cryptographic tokens, but, unlike cryptocurrencies like Bitcoin, NFTs are not mutually interchangeable, hence not fungible. In contrast to normal cryptocurrencies a NFT can represent a different underlying asset and have a different value. A NFT needs to be minted before it becomes a part of the Ethereum blockchain.
Where can i buy, trade and create NFTs?
Here you can find the best NFT marketplaces:
