Topic: What is NFT? - page 2. (Read 240 times)
NFT means Non-fungible token. here you can buy sell Art, photo, video, music, post/tweet etc. and here if you buy any NFT product your ownership will be digitally recorded by the blockchain. This means, who is that the real owner of the product. will be recorded through a blockchain. So that everyone can find out easily. for more info search in Google and search in YouTube for a video with your local language. it will help you to understand easily
NFT is a digital asset the only one you have. NFT can be in the form of works of art such as game assets, photos, videos, music and others. The relationship with crypto assets is that an NFT can be rewarded with crypto tokens. For example, your NFT in the form of a painting is priced at 10ETH.
Non fungal token is a kind of token that cannot be replaced.
Is it a token that doesn't have fungi on it? Lol.
I am laughing at your response. NFT is not Non Fungal Token. It is Non Fungible Token. What does Non Fungible mean? I would rather refer to the definitions that I found on wikipedia and investopedia.
Wikipedia definition: https://en.wikipedia.org/wiki/Non-fungible_token
Investopedia definition: https://www.investopedia.com/non-fungible-tokens-nft-5115211
Simply put, a non fungible token is a token that is unique and different from other tokens. So these kinds of tokens could not simply be interchanged because they have their individual identities or identification codes. That's unlike Bitcoin in which any Bitcoin is the same with any other Bitcoin.
Non fungal token is a kind of token that cannot be replaced. It's in the digital form and kind of replaced the traditional creative industry. Anything digital can sell as an NFT but, most of this tokens are drawn by it's rightful owners and placed at any marketplace where it can be sold for money. Recently, the market is booming that people don't care about the disadvantages of NFT, they just jump into the market and cause copyright issues. When an NFT lets say a portrait that belongs to someone else is being sold by another person who is not the rightful owner it's a red-flag that makes the Government want to regulate cryptocurrency. So, people who are ignorant of some dispute that can come out of NFT and just wish to make money are the people who cause why the Government are gazing on the activities happening in the crypto technology.
I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?
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