What is an NFT (Non-Fungible Token)?
Posted: Tue Feb 18, 2025 3:30 am
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 .
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 .