Hendrick Kganyago NFTs
NFTs, which present digital or physical artworks on the blockchain, remove the need for agents and allow artists to connect directly with their audience. Extending this use case, NFT can also be used for identity management in the digital realm. Fractional NFTs can be traded on DEXs like Uniswap, not just NFT markets. But NFTs mean that ownership of the assets has passed to the actual buyer, meaning that they can be bought and sold through the gaming platform with added value depending on who owned them along the way. However, NFTs can be used to tokenize physical assets such as real estate, physical art, etc., opening up almost limitless applications. The types of NFTs are very diverse, but they can take the form of a digital work of art or a music file, anything unique that can be stored digitally and have value. In fact, they can be used to represent ownership of any unique asset, such as a document for an object in the digital or physical realm.
These are unique digital items that are fun to own or even profitable to trade. They are digital representations of assets and are compared to digital passports as each token contains a unique, non-transferable identification to distinguish it from other tokens. They are also expandable, which means you can combine one NFT with another to "spawn" a unique third NFT. Just like Bitcoin, NFTs also contain ownership information to facilitate identification and transfer between token holders. Owners can also add resource-related metadata or properties to the NFT.