WTF is an NFT?
NFT stands for non-fungible token. Done. Easy, right? No.
Ok, let Isaiah Archer of Whistle Buoy explain.
“It’s more or less a unique piece of digital artwork,” said Archer. “The non-fungible part means it can’t be traded; it’s unique and not replaceable — it’s a collectible.”
What about the token part?
Well, the token part means that it’s a piece of work, like a token to play an arcade game, or a ticket to a concert. It’s not money per se, but it definitely has value.
But what makes an NFT special?
The part that makes an NFT so unique nowadays is that it’s supported by the blockchain network; the same network that houses cryptocurrencies like Bitcoin and Ethereum.
Read the article here