NFTs Crypto News

What are NFTs? NFTs described briefly: Nonfungible tokens (NFTs) are verifiably distinct representations of digital and physical things. Each NFT is unique in terms of composition and, as a result, value.

In the physical world, US currencies are fungible. No value is lost if a person exchanges one paper US dollar for another paper US dollar. On the other hand, artwork is typically nonfungible. The "Mona Lisa" does not have the same worth as "The Persistence of Memory," because both artworks are unique and hence valuable.

Based on distributed ledger technology, NFT crypto assets are used to authenticate buyers of unique things and prove aspects such as ownership.