What I Learned About NFT's in a Day
NFT also known as Non Fungible Tokens. They are digital assets that represents real-world objects like art, music, in-game items and videos. In simple terms NFT's are like digital versions of images, videos, video game items etc. You buy NFT's usually with cryptocurrencies. When you buy an NFT, you are owning the digital rights to that image. Even thou people can download or screenshot that image from the internet. Some people or collectors value that digital bragging rights more than the item itself. Cryptocurrencies are fungible in the sense 1 BTC = 1 BTC. NFT's are not like that. For instance let's take the example of an NFT of every day's which is an NFT of a person paintings for 5000 days. now another NFT of a famous basketball player making a 3 pointer. Both these NFT's are not equal to each other and have different values. NFT's are usually kept in Ethereum blockchain. NFT's are digital versions of objects such as art, GIFs, videos, collectibles...
