Everyone is already tired of bombing with news about the NFT. Some NFTs skyrocket in price and their owners can only envy, while others go bust – and there is an indisputable majority of these on the market.
Let’s deal with the base: where is NFT used and how to create your own NFT and what are the most expensive and well-known NFT cases that exist today.
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And now – to business.
NFT (non-fungible token) – a non-fungible token is a token that creates a digital impression for a unique object. For example, a song, picture, football card or other work.
The NFT is the digital certificate for this unique item.
Each NFT is unique and exists in a single copy, it cannot be divided, and all information about its author, buyer and all transactions with it is securely stored in the blockchain.
Non-fungible tokens have helped solve the problem of illegal distribution of digital art. How to preserve the uniqueness of virtual works, if they are so easy to copy?
There are fakes in the real world, but physical items can be tested for authenticity.
And that is why the value of crypto-art lies in the possibility of their digital verification for authenticity and ownership.
In the case of NFTs, value is not determined by the work itself, but by the ability to prove ownership of a particular asset. This is what makes crypto art one of the most popular ways to use NFTs.