What is NFT?
You ask and we answer! Question: What is NFT? Answer: NFT refers to Non-Fungible Token which is a digital file whose ownership can be digitally verified using blockchain technology. Question: What does fungible mean? Answer: Fungible essentially means capable of being copied, so non-fungible means the token in question is unique. There are no other tokens exactly like it. For more information on what fungibility means click this link to take you to the wiki page. Question: What is a token? Answer : A token is any digital file that is uploaded to the blockchain and recorded in a digital ledger, becoming a cryptographic token. Question: Does that mean there can only be one copy of the NFT? Answer : While there can be many copies of the work that was used to make the NFT, there can only be one unique digitally signed NFT. This digital signature can be verified using the blockchain, so that only one NFT exists of a given work of art, even though there may appear to be other works li...