Non-fungible tokens, or better known as NFTs, have made a recent buzz in the digital spaces. They’re a specific new type of digital asset. They encompass various forms of digital creations.
NFTs, or non-fungible tokens NFTs are digital assets. They signal ownership of almost anything you can think of, from digital art to music and beyond. Like all NFTs, they operate on blockchain technology, guaranteeing their authenticity and scarcity. This guide aims to introduce you to the NFT world, detailing what they are and what they look like.
NFT stands for Non-Fungible Token. This implies that every token is special and one token can never be substituted by another arbitrary token. This is in marked contrast to fungible items such as currency, where one dollar functionally equals every other dollar.
An NFT can be a digital painting. Digital artists are creating NFT versions of their paintings and drawings to sell them as one-of-a-kind digital assets. This gives us a new method of establishing ownership and authenticity, something that was a challenge in the digital space.
NFTs can also be animated videos. Artistic short clips, animations, and even full-length films can all be tokenized, giving creators new monetization methods for their art. That way, collectors can own unique pieces of property from the NFTs like short-form, digital animation.
Well, a 3D sculpture can be an NFT, as well. Digital sculptors are using NFTs to sell their unique 3D creations, which can then be displayed in virtual reality art galleries or metaverses. This enables collectors to display distinct virtual sculptures as exclusive 3D objects.
NFTs can even be GIFs. These kinds of GIFs have come to represent a new aesthetic type known as digital art. They represent a slice of internet culture.
