Did someone say NFT's? What they are and how they work.

Did someone say NFT's? What they are and how they work.

By k1llswitch | In BNB we BELIEVE | 21 Sep 2021


NFT'S

NFT stands for "non fungible token". It is considered one of the newer digital assets.

Non fungible means it can not be traded or exchanged for other tokens.

What are they used for?

NFT's are like buying a painting or a souvenir, right? A souvenir that is mass produced in a factory somewhere or one that was hand painted and made for only one to exist in the entire world.

It gives you a digital asset, or an ownership of that asset to be exact, kind of like buying a house or a car...

They are used in a lot of Blockchain games like trading card games and such.

Those "cards" are actually NFT's.

Fun (and important) facts:

 

NFT's belong to the Ethereum Blockchain network which means they are tokens of their own.

NFT's have to be bought, you cannot simply just right click and save the image :P

 

 

Just a disclaimer before i peace out:

My articles are made to explain terms in very simple ways for people to understand, if you didn't like the article feel free to dislike it, i have nothing against it, if you liked it, like it, it means a lot to me. But i just wanted to bring attention to the shortness of some of my articles, and hope people understand me better and that they don't think i make this in 3 minutes. In fact in every one of my articles a lot of research and simplifying facts goes into writing a good article.

Thank you for the attention,

Stay safe,

Peace out,

k1llswitch.

 

 

 

 

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k1llswitch
k1llswitch

Cryptocurrency enthusiast | Writer | Trader | Blogger


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