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WHAT IS NFT AND HOW TO DO IT

First, let's look at some of the key terms and definitions that we'll use. To understand what NFTs are and how they work, we need a broader context:

NFT stands for NON-FUNGIBLE-TOKEN . This probably doesn't mean much at this point; the word "fungible" is not particularly common . However, it essentially means that something is interchangeable. In fact, NFT is said to be the new speculative investment.

For example, in economics, money is a fungible good. It has units and can be easily exchanged (for example, a 20 pound note for two 10's) without losing or gaining value. Expendable assets also include items like gold, cryptocurrencies, and stocks.

A fungible asset is something that can be divided in many different ways, and there can be an unlimited supply . They can be used in multiple ways, for example to make payments or to store value .

A non-expendable asset, on the other hand, is a single item, such as a painting, a house, or a business letter, for example . Although a painting, for example, can be copied or photographed, the original remains the original, and the replicas do not have the same value.

NFTs are units of data stored in a blockchain digital ledger . Each non-expendable token acts as a kind of certificate of authenticity, showing that a digital asset is unique and not interchangeable. An NFT can never be modified, tweaked, or stolen, thanks to the cryptographic principles that make the blockchain unique.

DIGITAL ASSET

In simple terms, a digital asset is anything that exists in a digital form and has a right of use (a right to copy, duplicate, reproduce, modify, and otherwise use). Thus, for example, items such as documents, audiovisual content, images and other similar digital data are considered digital assets .

BLOCKCHAIN

Unlike a traditional database, a blockchain is a series of linked 'blocks' or blockchains of data. This blockchain creates a shared digital ledger (data collection) that records activity and information within the chain.

North County Tribune

WHAT IS NFT AND HOW TO DO IT

First, let's look at some of the key terms and definitions that we'll use. To understand what NFTs are and how they work, we need a broader context:

NFT stands for NON-FUNGIBLE-TOKEN . This probably doesn't mean much at this point; the word "fungible" is not particularly common . However, it essentially means that something is interchangeable. In fact, NFT is said to be the new speculative investment.

For example, in economics, money is a fungible good. It has units and can be easily exchanged (for example, a 20 pound note for two 10's) without losing or gaining value. Expendable assets also include items like gold, cryptocurrencies, and stocks.

A fungible asset is something that can be divided in many different ways, and there can be an unlimited supply . They can be used in multiple ways, for example to make payments or to store value .

A non-expendable asset, on the other hand, is a single item, such as a painting, a house, or a business letter, for example . Although a painting, for example, can be copied or photographed, the original remains the original, and the replicas do not have the same value.

NFTs are units of data stored in a blockchain digital ledger . Each non-expendable token acts as a kind of certificate of authenticity, showing that a digital asset is unique and not interchangeable. An NFT can never be modified, tweaked, or stolen, thanks to the cryptographic principles that make the blockchain unique.

DIGITAL ASSET

In simple terms, a digital asset is anything that exists in a digital form and has a right of use (a right to copy, duplicate, reproduce, modify, and otherwise use). Thus, for example, items such as documents, audiovisual content, images and other similar digital data are considered digital assets .

BLOCKCHAIN

Unlike a traditional database, a blockchain is a series of linked 'blocks' or blockchains of data. This blockchain creates a shared digital ledger (data collection) that records activity and information within the chain.

North County Tribune