What is an NFT (Non-Fungible Token)?

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The name is strange to most people, so let's explain it further.

In the cryptocurrency market, a “token” is the digital representation of a financial asset, that is, a good that can be traded on the market.

When inserted into a blockchain, the token takes on the role of a contract, guaranteeing ownership—to whoever owns that token—in the form of a digital asset protected by .

The term “fungible” refers to goods that can be replaced by others of malaysia phone number list he same type, without losing their original value.

A $100 bill, for example, is fungible, because it can be replaced by another bill of the same value. Therefore, a “non-fungible” good is one that cannot be replaced by another of equal value, because it is unique and exclusive.

Now, we can better understand what a non-fungible token is: a contract that guarantees the ownership and authenticity of a digital asset within a public ledger network .