What is an NFT? and what are they used for?
A non-fungible token (NFT) is a digital object that represents a unique item stored on the Internet. It can be in the form of a photo, video, or audio file.
What are NFTs used for? NFTs are tokens that are used to represent ownership of unique objects. NFTs allow art, collectibles, or even real estate to be represented as tokens.
An NFT is a unit of account that creates a digital copy of a unique item: paintings, photographs, videos, music, gifs. Such items are of great value among collectors, gamers, and art lovers. They are bought and sold through auctions.
Are NFTs worth real money?
NFTs - small works of art that can be bought on the blockchain, small pieces of property that can be owned in cyberspace - have gained fame and made many fortunes in the last couple of years. But this year, NFT prices have plummeted. Almost all NFTs on the market today are reportedly worthless.
