Facts about Non-fungible tokens(NFTs)

Non-fungible tokens

It is a digital asset represents proof of authenticity or ownership of a piece of content or unique item 

Verification by blockchain

NFT is built on blockchain which gives decentralized ledgers to record transaction history and ownership. It makes sure transparency, immutability, and security 

Unique Digital Assets 

NFT constitutes a wide range of the digital asset like music, videos, collectibles, artwork and virtual real estate. Each NFT has a unique identifier 

Transferability & Ownership 

In the NFT Marketplace, NFT can be traded, bought and sold. NFT ownership can give privileges associated or specific rights on digital asset.

Culture and Art

NFT has monetized work, retained ownership rights and reached global audiences. NFT has created digital art galleries, virtual exhibitions, and online communities 

Speculation and Liquidity  

Liquidity is facilitated by the NFT marketplaces to sell and buy NFT through auctions or direct sales. 

their potential value appreciation is speculated overtime


Royalties and Smart Contracts  

Royalties can be earned by the creators each time they are resold in the secondary market

Smart contracts within NFT allow program specific conditions and royalties by the creators


Criticism and Challenges 

NFT has been criticized for its impact on the environment

The lack of regulatory oversight in the NFT space Speculative nature of the NFT and potential copyright issues are major concern of NFT


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Made by Vasudha Sharma