An NFT is the digital version of a tangible or intangible item. It is a means so that everything that has value in the real world can have value in the virtual world. To do this, a digital certificate of authenticity and a series of metadata that cannot be modifi are assigned to this “token”. Its importance is such that there are elements in the real world whose value can be much lower than what it can have in this new parallel reality. But what is a token? A token is a unit of value that an entity generates to govern its business model and give more power to users to interact with its products. While at the same time it can facilitate the distribution and sharing of its benefits, as William Mougayar points out.
While a fungible token is an item
That can be exchange for another, a non-fungible token is characterized by being unique. To understand it better: an example of a fungible token is cryptocurrencies, interchangeable because they have the India WhatsApp Number List same value and meaning. A non-fungible token, however, is a work of digital art, since it is unique. The emergence of NFTs would have been impossible without the revolution brought about by blockchain technology . What are NFTs and how do they work? The first NFT, call ‘ Quantum ‘, was create in 2014 by artist Kevin McCoy.
The work represents an animat geometric figure
On a black background that changes shape and color. Since the first NFT went on sale, the supply has grown exponentially. One of the most controversial NFTs has been the first Tweet that was publish on the India Whatsapp Number social network Twitter by its former CEO, Jack Dorsey. The message was “just setting up my twttr” and its NFT was purchas by Sina Estavi, a cryptocurrency investor and entrepreneur. Who paid $2.9 million. Characteristics of NFTs Unique. Each NFT has a different attribute. Which is record in the token information and this information is not the same for two elements. So NFTs are always different from each other.
