What are NFTs?

Hi, P-assengers! How are you guys? I hope you are always healthy and happy. Nowadays a lot of people make tons of money from NFTs. But, what exactly is NFT? And how does it work? Stay tuned

NFT or non-fungible token is a unique and non-exchangeable unit of data stored on a blockchain, a form of digital ledger. NFT can be associated with reproducible digital files such as photos, videos, and audio. NFT provides certificates of authenticity or public proof of ownership using a digital ledger but does not reduce file copying or sharing, therefore NFT can only be owned by 1 owner. The non-existence of exchange makes NFT different from blockchain cryptocurrencies like bitcoin.

NFTs are tokens that we can use to represent ownership of unique items. They let us tokenize things like art, collectibles, even real estate. They can only have one official owner at a time and they’re secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence. NFT is a digital asset, just like buying stuff from video games.

Many NFTs are expensive, for example, bored monkeys that cost millions of dollars, so why buy them? Buying NFTs is not just to flex, and buy expensive stuff. but also to support the NFT community, by buying one of the NFT from the community, you can also come to the mansions, yachts, and parties created by the community

Is NFT a good investment? The answer is yes. Blockchain technology and non-fungible tokens (NFTs) offer digital artists and content creators a unique opportunity to monetize their digital creations and digital products. NFT art can also be considered a short and long-term investment. You can also sell your work to make a lot of money. 

Many people are still afraid to buy digital assets and hopefully with this NFT can change their views about buying digital assets.

 Aight that’s all from me about a brief explanation of NFT. Hopefully, this article adds to your insight into a virtual art. Have a good day and goodbye!

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