What is a Porsche NFT?

The unveiling of the first PORSCHΞ non-fungible token (NFT) took place at Miami’s Art Basel event, where innovative digital collectibles concepts were presented to the world. What are Porsche NFTs? This first official NFT collection marks a great leap into the Web3 world for Porsche.

What is an NFT & how does it work?

An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the NFT's authenticity and who owns it. So unlike most digital items which can be endlessly reproduced, each NFT has a unique digital signature, meaning it is one of a kind.

What is a non fungible token (NFT)?

A non-fungible token ( NFT) is a unique digital identifier that is recorded on a blockchain, and is used to certify ownership and authenticity. It cannot be copied, substituted, or subdivided. The ownership of an NFT is recorded in the blockchain and can be transferred by the owner, allowing NFTs to be sold and traded.

What is NFT cryptopunks?

The NFT collection CryptoPunks was a project that initially prohibited owners of its NFTs from using the associated digital artwork for commercial use, but later allowed such use upon acquisition by the collection's parent company. The first known "NFT", Quantum, was created by Kevin McCoy and Anil Dash in May 2014.