Around IT In 256 Seconds
Around IT In 256 Seconds
#84: Non-fungible token (NFT): digital, decentralized art market
Non-fungible tokens, NFTs for short, are financial instruments implemented on top of the blockchain. They can be bought and sold, just like cryptocurrencies. However, unlike bitcoins, each NFT is unique and traded individually. Whereas Bitcoins or ether are interchangeable, just like hundred-dollar bills. So what makes each NFT unique? Why would you purchase this particular NFT rather than the other one? Well, an NFT has an associated piece of data. That data is typically a hyperlink to a digital piece of art. What you actually purchase is… well… that link?
Read more: https://nurkiewicz.com/84
Get the new episode straight to your mailbox: https://nurkiewicz.com/newsletter
