What is NFT (Non-fungible Token)?


What is NFT (Non-fungible Token)?

Non-fungible token, NFT, is actually a special type of cryptographic token. The uniqueness of NFTs made them quickly popular. For example, paintings or sculptures, traditional works of art are valuable. Because they are unique because they are one of a kind.


Today, in addition to traditional art, digital artworks created with computers and tablets have become very important. To tokenise these designs and build them on the blockchain is to present them to the gallery of the digital age. Since these tokens cannot be exchanged for any other token, each NFT is very special and valuable.


On the other hand, ERC-20 tokens are inherently fungible. Namely, an ERC-20 token is a type of token that can be used for a service or application. For this reason, ERC-20 tokens can be exchanged within their own network.


Finally, Non-fungible tokens can be stored on computers, cloud storage and digital files. You can easily and infinitely reproduce, print or share NFT artefacts on social media platforms.

Random Post

Order Types on Bitcoin Exchanges
Order Types on Bitcoin Ex...

In order to become a Bitcoin owner, you can exchange fiat money with another Bitcoin owner and buy Bitcoins from that person, or you can sell goods or services in exchange for B...

Read More

Bitcoin Electricity Consumption is Almost as Much as a Country
Bitcoin Electricity Consu...

Electricity consumption of Bitcoin and cryptocurrencies, also known as digital gold, has become one of the most curious topics recently. Since there is a lot of information poll...

Read More

500 Million Dollars of Bitcoin Accumulated Whale Sit on the Agenda
500 Million Dollars of Bi...

A cryptocurrency whale has accumulated over $500 million in Bitcoin since the beginning of this year. According to blockchain information, a Bitcoin whale started buying Bitcoin...

Read More