What is NFT?
First of all, what is NFT coin? NFT, or Non-Fungible Token, can be defined as a unique digital asset that contains an image, sound file, video or proof of the digital equivalent of a physical asset. Founded in Ethereum in 2017, NFTs have become one of the most popular topics in the cryptocurrency world in 2021. Today, NFTs are widely used for digital artworks, but there are also other uses such as interactive game items and sports collectibles.
How is NFT different from other cryptocurrencies?
Non-Fungible Token means token that cannot be divided and cannot be reproduced from the same. Unlike cryptocurrencies like Bitcoin and Ether, which are fungible, NFTs are unique digital assets. To explain with an example, today you can buy and buy a Bitcoin or Ether by dividing it into parts and exchange the same cryptocurrency in its own unit. However, NFT, which is a private digital asset, cannot be exchanged for any other token, as it has no analogues. Its intrinsic value is determined by its producer or investor.