What is NFT ?
What is NFT ? NFT stands for Non-Fungible Token, which is a unique digital asset that is stored on a blockchain. Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, which are fungible (meaning one unit is interchangeable with another unit of the same value), NFTs are non-fungible, which means that each NFT is unique and cannot be exchanged for another NFT. NFTs can be used to represent various types of digital assets, such as artwork, music, videos, and even tweets. These assets can be sold and traded on blockchain marketplaces, such as OpenSea and Rarible, using cryptocurrencies such as Ethereum. Each NFT is assigned a unique identifier that is stored on the blockchain, which ensures its authenticity and provenance. The popularity of NFTs has exploded in recent years, with some high-profile sales reaching millions of dollars. For example, in March 2021, an NFT artwork created by the artist Beeple sold for a...