What does NFT stand for?

OK, I know NFT stands for nonfungible token. But what does it actually mean? Let’s start with the words themselves. In economics, “fungible” is a term used for things that can be exchanged for other things of exactly the same kind.

How do NFTS work?

Traditional works of art such as paintings are valuable precisely because they are one of a kind. But digital files can be easily and endlessly duplicated. With NFTs, artwork can be "tokenised" to create a digital certificate of ownership that can be bought and sold.

What is a non fungible token (NFT)?

The cards are being offeredas a "non-fungible token" (NFT), a way of owning the original digital image. Where Bitcoin was hailed as the digital answer to currency, NFTs are now being touted as the digital answer to collectables, but plenty of sceptics fear they're a bubble waiting to burst. What is a non-fungible token?

What is a community NFT?

Those are what are known as community or pfp (profile picture) NFTs. Basically, they’re a series of unique but thematically related NFTs, released in limited batches. Once they’re released or “minted,” these NFTs become a kind of digital collectible, and a membership card to an exclusive club.