March 3, 2021 06:08 pm
Original Link: https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
NFTs, explained
There’s nothing like an explosion of blockchain news to leave you thinking, “Um… what’s going on here?” That’s the feeling I’ve experienced while reading about Grimes getting millions of dollars for NFTs or about Nyan Cat being sold as one.
You might be wondering: what is an NFT, anyhow?
After literal hours of reading, I think I know. I also think I’m going to cry.
Okay, let’s start with the basics. What is an NFT? What does NFT stand for?
Non-fungible token.
That doesn’t make it any clearer.
Right, sorry. “Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card,...
Original Link: https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
Share this article:
Tweet
View Full Article
The Verge
The Verge is an ambitious multimedia effort founded in 2011More About this Source Visit The Verge