What is a non fungible token (NFT)?

A non-fungible token ( NFT) is a unique digital identifier that is recorded on a blockchain, and is used to certify ownership and authenticity. It cannot be copied, substituted, or subdivided. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded.

What is the Chicago Bulls NFT collection?

Own a piece of the Chicago Bulls first officially licensed NFT collection. The Bulls Legacy Collection, which highlights the team’s iconic six World Championship rings, features 567 total tokens, split across six unique token designs (one for each ring) and three distinct tiers of rarity (legendary, iconic & rare).

What is an NFT & how does it work?

An NFT is a digital asset that can come in the form of art, music, in-game items, videos, and more. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.

Could someone buy your NFTS?

A lot of the conversation is about NFTs as an evolution of fine art collecting, only with digital art. But yes, someone could buy your good tweets. The founder of Twitter sold one for just under $3 million shortly after we originally posted this article.