Hello Everyone .In this Blog I will talk about what is NFT and How It's work:
What is NFT(Non Fungible Token):
NFT stands for Non-Fungible Token which is a digital publish records of transaction. where you can create any design, Image, assets and converted in NFT form and Sell. the NFT use Blockchain technology
NFTs are tokens that we can use to represent ownership of unique items. They can only have one official owner at a time and they're secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence.
NFT use Ethereum Blockchain technology.
How NFT Works:
NFTs are different from ERC-20 tokens, such as DAI or LINK, in that each individual token is completely unique and is not divisible. NFTs give the ability to assign or claim ownership of any unique piece of digital data, trackable by using Ethereum's blockchain as a public ledger. An NFT is minted from digital objects as a representation of digital or non-digital assets. For example, an NFT could represent.
Types Of NFT:
- GIFs
- Collectibles
- Music
- Videos
- Deeds to a car
- Tickets to a real world event
- Tokenized invoices
- Legal documents
- Signatures
Why To Use NFT:
In now a days you create a unique art and published on internet. In this case anyone can download your art and using some of editing it change the art and get the ownership of that particular art.so that's why a concept of NFT will interduce where if you create any art and published on NFT blockchain technology then it's create a unique token and store in blockchain.
and you can sell our art using NFT
NFT is Non Fungible Token where your Art, Images ,GIF, Music etc will save in a unique token. so that unique token will represent that your are the owner of that art gallery.
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