What is NFT?
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NFT means non-fungible tokens (NFTs), which are generally created using the same type of programming used for cryptocurrencies. In simple terms, these cryptographic assets are based on blockchain technology. They cannot be exchanged or traded equivalently like other cryptographic assets.
Like Bitcoin or Ethereum. The term NFT clearly represents it can neither be replaced nor interchanged because it has unique properties. Physical currency and cryptocurrency are fungible, which means that they can be traded or exchanged for one another.
Digital Asset - NFT is a digital asset that represents Internet collectibles like art, music, and games with an authentic certificate created by blockchain technology that underlies Cryptocurrency.
Unique - It cannot be forged or otherwise manipulated.
Exchange - NFT exchanges take place with cryptocurrencies such as Bitcoin on specialist sites.
Now that you've taken your initial steps in understanding what an NFT is, you should continue on and learn about how an NFT works.
The majority of NFTs reside on the Ethereum cryptocurrency's blockchain, a distributed public ledger that records transactions.
NFTs are individual tokens with valuable information stored in them.
Because they hold a value primarily set by the market and demand, they can be bought and sold just like other physical types of art.
NFTs' unique data makes it easy to verify and validate their ownership and the transfer of tokens between owners.
If you’re looking for additional resources for learning about NFTs or building your own, Let's check out the next hands-on recipes.
