NFTs are cryptographic assets in a digital ledger called a blockchain. NFTs contain different identification codes and metadata that separate them. Abbreviation of Unclaimed Token by NFT.
However, like cryptocurrencies, you cannot trade or exchange the same. This makes them different from visual tokens like cryptocurrencies, which are similar to each other. Therefore, bitcoins and altcoins are used for medium size
What Is FUNGIBILITY?
Appearance is the ability to help exchange goods with the same asset without losing their value. Defines the characteristics of an asset, such as classification and value.
For example, one Bitcoin is always equal to another Bitcoin, as one dollar is equal to another dollar. For example, if you lend your friend a $ 20 note, he or she will not have to pay that amount for the same $ 20 note - any $ 20 note will do.
Intimidate things do not change and have different things. This makes them very different, even though they look the same.
There are several examples of intangibles in the real world, such as drama event tickets, drawings, etc. For example, two drawings may look similar but may have different levels of abnormality. Similarly, pre-theater tickets are more important than back-line tickets.
What are the features of NFTs?
Invisible tokens are very powerful tokens that allow flexible methods to represent assets not included in the blockchain.
The main features of the NFTs are:
Unique: NFT tokens contain code details that describe the properties of each token that set it apart from other tokens.
A piece of digital art that may contain coded information in pixels. For example, store information for in-game items such as a token such as which player owns the item and its attributes.
Follow-up: All Invisible Tokens (NFT) have a blockchain transaction record since its creation, including every time you switch hands. That means each Seal is true. This is especially important for owners and potential buyers of tokens.
General: To make tokens that do not appear to be attractive to consumers, they should be reduced. This makes the goods desirable for a long time, and, the supply should not exceed the requirements.
Indiscriminate: NFTs cannot be made as part of everything. As a whole, you can't buy part of a concert ticket or trading card. Plus, you can't split invisible tokens into smaller denominations.
Order: Like all digital assets and tokens built on blockchain, NFT can also be programmed.
In the next blog, we will discuss the history and working of NFT
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