CAN MORE LIGHT BE SHED ON THE SUBJECT OF NFTS OR IS IT OUT OF PLACE TO ASK HERE?

Charles-Tim

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Quote from: Cryptomultiplier on May 18, 2022, 10:43:43 AM

I dont really know if it is right to ask this here, but while i have learnt so far that this forum is supposed to educate, i would very much like to revisit the topic that concerns non-fungible tokens(NFTs) and hope much light is shed on the subject matter so as to enlighten my clouded mind. The simplest common terms for a layman with little or no knowledge of Bitcoin in whole should be used to expantiate. Thanks.

I created a topic about NFTs a year ago on this forum, you can make use of it for start.

Non Fungible Tokens (NFTs)

You can follow Upgrade00's advise, make use of search engine to get more recent topics and articles about NFTs.

Fivestar4everMVP

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Quote from: Cryptomultiplier on May 18, 2022, 10:59:13 AM

@UPGRADE00...I appreciate the simplicity. I would very much make use of the 'search button' when next i have a question that seems to have made rounds on this platform. Thanks.

@upgrade00 already said it all, there's is alot of discussions surrounding NFTs on this forum already, a simple search will bring up past discussions on this topic.
NFTs are digital arts, just like we have paintings drawing, pictures, gifs, even short videos, etc, all of this can be minted on the blockchain, and when this happens, they are called NFTs, they are arts in digital form.
NFTs have various uses, and some of them are -
-blockchain gaming
-digital signatures
-Real estate
-voting
-Ticketing
-metaverse
-Academic credentials. Etc.

Cryptomultiplier

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@UPGRADE00...I appreciate the simplicity. I would very much make use of the 'search button' when next i have a question that seems to have made rounds on this platform. Thanks.

Upgrade00

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The search button at the top would be of help here as lots of posts have been made on that subject.

In simple terms; Non Fungible Tokens are digital signatures on the blockchain which represents a digital art.

Stuffs like Bitcoin, gold and fiat are fungible, meaning they are identical and can be exchanged for each other; 1BTC = 1BTC.
NFTs on the other hand are not fungible and cannot be exchanged for one another. Each token is different and represented on the blockchain.

NFTs can be minted on blockchain platforms like ethereum, solana, polygon etc, and sold on websites like opensea.
Any art at all could be turned into an NFT; a video, gif, screenshot, painting etc.

Cryptomultiplier

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I dont really know if it is right to ask this here, but while i have learnt so far that this forum is supposed to educate, i would very much like to revisit the topic that concerns non-fungible tokens(NFTs) and hope much light is shed on the subject matter so as to enlighten my clouded mind. The simplest common terms for a layman with little or no knowledge of Bitcoin in whole should be used to expantiate. Thanks.

Topic: CAN MORE LIGHT BE SHED ON THE SUBJECT OF NFTS OR IS IT OUT OF PLACE TO ASK HERE? (Read 83 times)