“So, what in the world are
NFT’s?”
By Siloh Moses of DipsandSticksDaily.com
If you have been wondering just ‘what in the world are NFT’s?, well guess what? You’re not alone. Google’s keyword search data shows that interest in NFT’s or nonfungible tokens has surged to record levels, with traffic beating out search terms pertinent to many cryptocurrency assets ranked among the top 10. What’s a cryptocurrency? A cryptocurrency is a digital or virtual currency that is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend.
REALVEGASMAGAZINE.COM
A cryptocurrency (or crypto as it is called for short) can also be used to buy goods and services in the real world but is mostly used in online peer-to-peer digital transactions.
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In layman terms, it’s considered ‘digital cash.’ And an NFT is a nonfungible token (or unit of data) that is stored on a digital ledger, called a blockchain. This blockchain certifies that the digital asset to be unique and therefore not interchangeable. NFT’s can be used to represent items such as photos, video snippets, digital art, audio (music), and other types of digital files. Often purchased with digital cash or crypto. To keep this a simple as possible (without going too far down the rabbit hole) we’re going to answer the topic at hand. If you want to know more about crypto’s or NFT’s, and want to go deeper down the rabbit hole, be sure to check out DipsandSticksDaily.com and subscribe to their free email crypto newsletter. So, now that you have an idea of what NFT’s are, again non-interchangeable units of stored data that can be used to represent items such as photos, video snippets, digital art, audio (music), and other types of digital files. Often purchased with digital cash or crypto…The real question is “How do they work?”
