Premium Only Content

NFT Explained In 5 Minutes _ What Is NFT_ - Non Fungible Token _ NFT Crypto Explained _ Simplilearn
What is NFT? - Non-Fungible Token
NFTs turn your digital assets into ""one of a kind"" by creating a unique digital signature that defines the ownership of your assets and that can be bought and sold for real money, cryptocurrency or any other asset like a ""non-fungible token"" aka NFT.
NFT basically creates a blockchain-based digital certificate for your digital collectables, including games, music, art, and many more. This certificate gives your artwork a unique identity. The Underlying technology and the programming language used by NFTs are the same as other cryptocurrencies ie. Blockchain and the programming language Ethash or Scrypt. On the other hand, NFT is a unique token; therefore, if you try to trade it, you may end up with something completely different in your hands. Cryptopunks is a remarkable example of NFT, it enables you to buy, sell and store 10,000 collectables with the proof-of-ownership being stored on the Ethereum Blockchain.
NFT has proved itself to be a boon in the lives of many others - like Jack Dorsey, the CEO and co-founder of Twitter with his very first and famous tweet, "just setting up my twitter," and Vignesh Sundaresan, famously known as "Metakovan," who bought 69.3 million dollars worth of NFT art on Beeple. Owing to its increasing popularity, people are now willing to pay hundreds of thousands of dollars for NFTs.
NFT has enhanced media exposure and special perks for aspiring artists on social media. This popularity of NFT creates new opportunities for new art platforms, motivating people to buy art from internet platforms and promoting copyright or originality of digital assets. Many experts in the crypto industry say that around 40% of new crypto users will use NFTs as their entry point. As a result of its growing popularity, NFT could represent a more significant part of the digital economy in the future.
-
8:48
Hollywood Exposed
15 hours agoRob Schneider Just ENDED Stephen Colbert’s Career With ONE Brutal Truth
3.51K12 -
12:14
Nikko Ortiz
2 days agoMilitary Fails Of The Week
45.6K17 -
27:37
pewculture
7 days agoThe I, Robot Gun Looked Cool—Until We Found Out What It Really Was - EP#23 - I, Robot
10.4K7 -
56:00
Omar Elattar
9 months agoHow I Made $800M, Got Depressed & Now Spend $2M Per-Year On My Anti-Aging Health Routine!
20.4K2 -
24:24
GritsGG
15 hours agoSpectating Random Solos with the Rank 1 Player - Pro Strategies!
10.7K -
LIVE
Lofi Girl
2 years agoSynthwave Radio 🌌 - beats to chill/game to
491 watching -
9:27
MattMorseTV
2 days ago $17.85 earnedHe just lost EVERYTHING.
80.4K122 -
7:10:39
MyronGainesX
1 day agoFormer Fed Explains Serial Killer Israel Keyes, Yahweh ben Yaweh, And The El Rukn Gang, And Police Shooting Reactions!
143K36 -
4:22:33
Due Dissidence
16 hours agoGaza STARVATION Hits Tipping Point, Flotilla CAPTURED, Bongino BREAKS SILENCE, Maxwell MEETS DOJ,
60.8K136 -
10:52:37
GritsGG
17 hours agoWin Streaking! Most Wins 3180+! 🔥
104K2