Skip to main content

​​Become a billionaire by owing NFTs! What are NFTs(NON-Fungible Tokens)

 ​​What are NFTs?

What are NFT

NFT stands for Non-Fungible Tokens, Non-fungible is an economic term that means an unique item without interchangeable value, for a digital artist this can be an unique piece of art, for a creator it can be a song file and for a manufacturer of software it can be a program file. 


Fungible in economic terms stands for items that are non-unique and interchangeable for each other. For example currency, 1USD will buy you a chocolate, the value of the dollar bill is set and it is not unique, there are many 1 dollar bills and each bill will buy you a chocolate that costs 1USD.

NFT's transforms digital assets by adding a unique digital signature, that makes a blockchain based digital certificate like many cryptocurrencies. 

It secures digital assets from being copied, forged or shared as without the original digital signature, the authenticity and legitimacy of the original digital asset created will not be present. 

An example, Imagine a photographer takes a photo of Mother Teresa, he digitizes it and buys a NFT token for this photograph, this photo is now secured as his unique digital asset, which means even though people can share this photograph on social media or use it as their wallpaper, they do not own the original creator signature for that digital asset, if someone wants to buy the original photograph, they will need to verify the NFT token and purchase it from the photographer. 

NFTs have recently been in the news drawing a lot of celebrity attention and investors onto the blockchain network as collectors and enthusiasts flock to own the original digital asset made by creators all over the world.

THANKS FROM   {NaJaM}🙂

Labels:

Comments

  1. dsdsaAugust 3, 2022 at 7:27 PM

    Great article with excellent idea!Thank you for such a valuable article. I really appreciate for this great information..
    NFT

    ReplyDelete

Post a Comment

Popular posts from this blog

Earth's shine seems to be fading due to global warming as the oceans heat up

  In recent years, the climate change crisis has escalated to unprecedented levels, resulting in unimaginable and life-changing consequences. An acclaimed new study contends that global warming is dimming our planet, literally! Global warming is causing the Earth's brightness to decrease, according to a new study. Now you're probably wondering, "how do you even measure something like that?" But researchers have their ways. Keeping track of the Earth's shine requires them to calculate the Earth's 'albedo', or reflectance. The albedo is calculated utilizing something called the 'earthshine'. The crescent moon is most noticeable immediately after sunset or before sunrise, when its dazzling crescent gives way to a dark disc with a faint glow. A crescent moon's unlit parts are known as earthshine because they are glowing from the light reflected from the Earth. The study revealed that earthshine data over the last three years indicates that our ...
1 comment
Read more

What is Gun Cotton? How is it different from Black Gun Powder?

  Nitrocellulose (also known as cellulose nitrate, flash paper, flash cotton, guncotton, pyroxylin, and flash string, depending on form) is a highly flammable compound formed by nitrating cellulose through exposure to a mixture of nitric acid and sulfuric acid. One of its first major uses was as guncotton, a replacement for gunpowder as a propellant in firearms. Guncotton was actually developed as a “Smokeless Gun Powder”, Essentially, the main difference between Black Gun Powder and Smokeless Gun Powder is that you need almost zero incombustible components. The key problem with black powder was that it produced a cloud of smoke, not only from Un combusted carbon but also, unavoidably, from ash, the salts formed from whatever anion happened to latch on to the sodium or potassium cations present from the nitrates in black powders. Black powder ash contains a high proportion of potassium or sodium sulfates and carbonates, and because the inorganic saltpeter component was about 2/3 of...
Post a Comment
Read more

HDFC Offers Scholarship Upto Rs 1 Lakh for Students, Check Eligibility, Last Date & Apply Link Here

  HDFC Ltd’s Badhte Kadam Scholarship 2021-22 HDFC Offers Scholarship Upto Rs 1 Lakh for Students, HDFC Ltd’s Badhte Kadam Scholarship 2021-22 aims to provide financial assistance to students to continue their education from Class 9 to graduation level (General and Professional), especially those who have been affected due to the COVID-19 pandemic. Eligibility: Indian students who have either lost their parent(s)/earning members or whose family members have lost their employment (or livelihood) during the pandemic. Currently studying in Class 9 to Undergraduate (including general and professional courses) level. Annual family income must not be greater than INR 6,00,000 (6 lakh) from all sources. Prizes & Rewards: Up to INR 1,00,000 Last Date to Apply: 15-02-2022 Application mode: Online applications only Apply Link: http://www.b4s.in/ksn/HTPF1
Post a Comment
Read more