What is an NFT?

TIM THOMAS TIM THOMAS Learn more

The most expensive NFT in the world sold for over $69 million. They’ve been popping up in the news, in mainstream media, and even at the Australian Open, but what is an NFT?

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What Is an NFT?

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NFTs come in many forms including digital artwork, virtual collectibles, and music. Despite their “visual” nature, they cannot be replicated.

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Are NFTs Cryptocurrency?

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Both exist on the blockchain; however, NFTs should likely be considered more of a subset of cryptocurrencies.

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Are NFTs Safe?

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Why Do People Invest In NFTs?

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What is an NFT?

The most expensive NFT in the world sold for over $69 million. They’ve been popping up in the news, in mainstream media, and even at the Australian Open, but what is an NFT?

What Is an NFT?

Non-fungible tokens, or NFTs, are digital assets recorded on a blockchain. Each and every NFT is completely unique and different from any other token in the world.

NFTs come in many forms including digital artwork, virtual collectibles, and music. Despite their “visual” nature, they cannot be replicated.

Are NFTs Cryptocurrency?

Is an NFT the same as, say, bitcoin or ether? Not quite. While NFTs are cryptographic assets, they do differ from cryptocurrencies.

Both exist on the blockchain; however, NFTs should likely be considered more of a subset of cryptocurrencies.

Are NFTs Safe?

Just like any investment, there is always market risk involved when investing in NFTs. However, as they are based on blockchain technology, NFTs are cryptographically secure and difficult to hack.

Why Do People Invest In NFTs?

Firstly, they are a new and exciting technology. Secondly, NFTs represent an investment opportunity.

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