NFT stands for Non-fungible token or Non-fungible token.
Of course, “Non-fungible” means that it is unique and irreplaceable.
NFT is a Digital Token on Blockchain that is similar to cryptocurrencies like Bitcoin or Ethereum, but NFT was developed for exchange and trading various kinds of Digital Works, which can be anything in digital format.
The excitement is using technology to sell digital art such as drawings, photos, signatures, music, video footage, in-game items, or anything else on an online platform. This makes it possible to show the ownership of that asset, each token is different. No different from collectibles or valuables That each piece has its own unique characteristics.
How is the NFT token different from other tokens in the market?
Trading with NFT differs from general purchase in which the owner of the work has to deliver the goods or files to the buyer because it is trading the “Ownership of Token”
Worth investing or not?
One of the obvious benefits of buying digital art like NFT is that it allows you to financially support your favorite artists. This is a more modern way to stickers in Telegram. Buying NFT will get you basic licenses, such as being able to post images online. Announce or show that you are the owner of the art available on blockchain.
In addition, NFT is speculative like any other asset. That you buy and hope that in the future its value will increase in order to be able to sell it for profit.
There are several markets that allow people to buy and sell NFT, such as OpenSea, Rarible Grimes, or Nifty Gateway, and there are other markets that you can admire or purchase this digital art.
NFT, on the other hand, is a unique type of crypto asset. It may make it useless as a currency. But it is very useful for other areas such as digital art creation. This allows us to use Blockchain in a wider variety of ways than ever before. By making various valuable art collections or assets Can be traded more easily in the digital world At a lower cost It also enhances the value of assets. Until it creates investment opportunities for investors as well.