What do you need to know about NFTS?

Here’s what you need to know about NFTs. What is an NFT? NFT stands for non-fungible token. They're are a type of crypto asset, meaning they are digital assets rather than physical. Also, while they can hold monetary value like any other asset, they are not considered a cryptocurrency. Non-fungible refers to the fact that each NFT is unique.

What are art NFTS & gaming NFTS?

Art NFTs are tokenized versions of digital art. They can be digital paintings, digital photographs, 3D digital sculptures or any other visual digital creation. Gaming NFTs represent specific elements within blockchain-based video games. Players can unlock virtual goods and collectibles, in-game items and skins, and more.

What is NFT (non fungible token)?

NFT stands for non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends. Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another.

Who are NFT buyers?

NFT buyers include collectors and investors looking to profit from the inherent scarcity. Any digital file can be tokenized and become an NFT. But several classes of NFTs have emerged as popular applications for the technology: Profile picture NFTs, or PFP NFTs, are used as profile pictures on social media sites.