non-exchangeable token IP: 46.42.196.7 Posted on June 30, 2022 at 06:31:13 PM by rwjr
NFT is a relatively new phenomenon that is, however, increasingly making news headlines. The abbreviation NFT (non-fungible tokens) means "non-interchangeable token. To understand tokens, we need to understand the environment in which they exist - in this case, blockchain.
To keep it very simple, a blockchain is a database that is stored simultaneously on a huge number of computers. In the traditional Internet model, all devices are connected to centralized nodes (in the form of servers or Internet service providers), whereas blockchain works in a different way. It has no central nodes; in its system, all devices simultaneously store all the information published in the blockchain.
Tokens, in turn, are a register entry within that blockchain. The distinguishing feature of most tokens is the principle of interchangeability. It can be compared to currency (including cryptocurrency). Each NFT is unique and exists in a single copy, it cannot be separated, and all information about its author, buyer and all transactions with it are securely stored in the blockchain. In other words, an NFT is a digital certificate attached to a unique object. Particular attention to NFT is paid by collectors (who, if not them, should search for unique objects), gamers (who are interested in in-game items: skins, weapons, collectible cards, etc.), as well as artists and art lovers. And art lovers in all its forms. There are a lot of sites working with NFT. Some are highly specialized marketplaces and differ in the categories of objects for sale: somewhere you can find exclusively video game items, somewhere - digital art.