NFTs: Everything you need to know about NFTs even if you’re just hearing about it

Non Fungible Token, NFTs
NFTs

Key Takeaways:

  1. Non-Fungible In its literary terms, means Anything that cannot be transferable or interchangeable. That would mean Fungible would mean anything that can be transferable or interchangeable.
  2. A token on the other hand is anything serving as a visible or tangible representation of a fact, quality, or value (monetary). A token can be in any form as long as it’s on the blockchain, It could be a coin? Or a Picture or a Video or a Gif etc.
  3. NFT is a Unique and Non-interchangeable unit of data (the Art and the Traits that makes it unique along with the smart contract backing it) stored on a blockchain.

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Olusegun Aborode

Olusegun Aborode

Direct Response Copywriter for Web3 Brands