What is an NFT & how does it work?

An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the NFT's authenticity and who owns it. So unlike most digital items which can be endlessly reproduced, each NFT has a unique digital signature, meaning it is one of a kind.

When did NFT come out?

In October 2015, the first NFT project, Etheria, was launched and demonstrated at DEVCON 1 in London, Ethereum's first developer conference, three months after the launch of the Ethereum blockchain.

What is NFT cryptopunks?

The NFT collection CryptoPunks was a project that initially prohibited owners of its NFTs from using the associated digital artwork for commercial use, but later allowed such use upon acquisition by the collection's parent company. The first known "NFT", Quantum, was created by Kevin McCoy and Anil Dash in May 2014.

Who can view NFTS?

While anyone can view the NFT, only the buyer has the status of being the official owner – a kind of digital bragging rights. Buying an NFT of an image or video does not normally mean the buyer gets the copyright of the underlying item. WHAT KIND OF NFTS EXIST?