Topic: The Non-Fungible Token Market in 2021
What exactly is an NFT?
- An NFT, known as a non-fungible token, is a unique token that cannot be exchanged with something else
- If you trade an NFT, you will get a completely different NFT in exchange
- NFTs are part of Ethereum blockchain
- blockchain — a system in which a record of transactions, especially those made in a cryptocurrency
- a way to store data without having to trust one company
- Ethereum is the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications (a cryptocurrency)
- blockchain — a system in which a record of transactions, especially those made in a cryptocurrency
- NFTs can take the form of anything digital and gives you ownership of the work (this cannot be copied, but the artist still retains copyright and reproduction rights)