18/08/2022
What is an NFT?
stands for non fungible token. Non Fungible means that the blockchain is storing a unique item on its data base. Think of a non fungible item like basketball cards. Even though the Michale Jordan rookie card and the Shaquille O'Neal rookie card are essentially made of the same material they are not the same. Both have different value and different sentiment behind them. Think of non fungible tokens like basketball cards stored on a data base. Each one is different.
Why is Art put on the Blockchain?
There are many advantages to putting art on the blockchain.
It makes it easy for creators to sell their art.
It makes it easy to confirm who created the art because all blockchains are open and public.
It makes trading art on secondary markets easy and liquid.
It provides unique ways to view art.
It gives potential new utility to the art as well (video games, virtual art galleries, metaverses, and other undiscovered use cases).
