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.

What is an NFT (non fungible token)?

What is an NFT? NFT stands for "non-fungible token," which really just makes the whole idea of NFTs even more confusing. In more common language, an NFT is a one-of-a-kind digital asset -- they can be a video, a GIF, an audio clip or a standard image -- that is linked to a crypto coin's blockchain.

What types of digital objects can be sold as NFTS?

All kinds of digital objects – images, videos, music, text and even tweets – can be bought and sold as NFTs. Digital art has seen some of the most high-profile sales, while in sports, fans can collect and trade NFTs relating to a particular player or team.

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.