What is NFT? What does NFT do?

By xreadon | CryptoChain | 23 Apr 2021


WHAT IS NFT? WHAT DOES IT DO?

In its shortest summary, NFT means digital certificate that turns digital artworks into registrable and salable products. NFTs use blockchain technology, which is a database that supports cryptocurrencies such as Bitcoin. NFTs can be used to trade digital assets such as digital artworks, video games, and music files. Unlike Bitcoin and Ethereum, NFTs are unique digital assets so others cannot steal artifacts made with NFT. In this way, it can be used safely.

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SOME NFT SALES

USA artist (Mike Winkelmann) sold a collage of Beeple works for $ 69.4 million at auction. Lebron James' dunk video found a buyer for $ 77,000. While Twitter CEO Jack Dorsey's tweet was sold for $ 2.9 million.

 

 

 

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xreadon
xreadon

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