What does NFT stand for?

It stands for "nnonfungible token." Nonfungible, meaning you can't exchange it for another thing of equal value. A $10 bill can be exchanged for two $5 bills. One bar of gold can be swapped for another bar of gold of the same size. Those things are fungible. An NFT, though, is one of a kind.

Is NFT a cryptocurrency?

At a very high level, most NFTs are part of the Ethereum blockchain, though other blockchains have implemented their own version of NFTs. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also keeps track of who’s holding and trading NFTs. How do you pronounce NFT? Almost everyone spells it out, saying “en eff tee.”

Why is NFT a good investment?

Because an NFT allows the buyer to own the original item. Not only that, it contains built-in authentication, which serves as proof of ownership. Collectors value those “digital bragging rights” almost more than the item itself. How Is an NFT Different from Cryptocurrency? NFT stands for non-fungible token.

What is the NFT Bay?

So someone created this site called The NFT Bay as a sort of art project, where they put up a torrent pointing to a 19TB ZIP file, which they said included every NFT on the Ethereum and Solana blockchains.