Are you feeling lost in the sea of buzzwords and technical jargon surrounding NFTs? Fear not, as we’ve got you covered with our comprehensive NFT for dummies guide.
Non-Fungible Tokens may sound intimidating, but in reality, they are a fascinating and innovative way to create, trade, and own digital assets.
In this article, we’ll answer all your burning questions, from “What is an NFT?” to “How to buy them?” and everything in between.
What is an NFT? An NFT Definition for Dummies
An NFT is a unique digital asset that’s stored on a blockchain. Like other cryptocurrencies such as Bitcoin and Ethereum, NFTs (Non-Fungible Tokens) use blockchain technology to establish ownership and authenticity. So, an NFT comes with proof of ownership. But unlike other cryptocurrencies, NFTs are not interchangeable – they represent a unique digital asset.
Imagine that you collect and have a baseball card that’s very rare and valuable. It’s not just any baseball card – it’s a one-of-a-kind card that no one else in the world has. Because it’s so unique and special, it’s worth a lot of…