What NFT mean?

NFT stands for non-fungible token. It is a type of digital asset that represents ownership of a unique item or piece of content, such as a digital artwork, a collectible, a virtual item, virtual real state or an in-game item. NFTs are created using blockchain technology, which is a decentralized and secure way to track and transfer ownership of digital assets.

Unlike fungible tokens, such as cryptocurrencies, each NFT is unique and cannot be replicated or replaced by another identical NFT. This uniqueness is what makes NFTs valuable and allows them to be used as a form of digital ownership, allowing the holder of the NFT to prove ownership of the corresponding digital asset.

NFTs are stored on a blockchain, and once minted, they can be bought, sold, and traded on various marketplaces and platforms that specialize in NFTs. NFTs also allow for the creation of new types of digital economies, where creators can monetize their digital creations, and users can own and trade unique digital assets.

Adam Spencer

Written by Adam Spencer

Author of the section "NFT".

A digital artist who releases his artwork under a pseudonym that is not disclosed on this site. Since childhood is fond of drawing and sculpture. A graduate of the Academy of Fine Arts. Passionate about both the creation of art and its history.

Has not passed him by and modern technology. He makes his works on the computer using a tablet. Master of Photoshop, Illustrator, 3ds Max and other less common specialized programs for designers and artists.

Got interested in NFT back in 2020, even before its popularity peaked. Believes NFT is a great technology that allows little-known artists to show their work to the world.

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