WHAT IS AN NFT ?
Essentially, a non-fungible token, or NFT, is a financial security that is made up of digital data that is stored in a blockchain, which is a distributed ledger.
The ownership of NFTs is recorded on the blockchain, and they can be transferred by the owner, allowing them to be sold and traded.
NFTs can be created by anyone, and they require little or no coding skills.
NFTs typically contain references to digital files, such as images, videos, and audio. Unlike cryptocurrencies, which are fungible, NFTs are uniquely identifiable.
A digital file referenced by an NFT determines its market value.
From 2020 to 2021, trading of NFTs grew by 21,000%, topping $17 billion in 2021.
DEFINITION OF NFT
Non-fungible-token
NON:
non or not
FUNGIBLE:
exchangeable or replaceable object ( in this context a picture, artwork, animations, illustrations etc)
TOKEN:
Something serving as an indication, proof, or expression of something else
An example of a token is what someone would use to play video games at an arcade
Here are some of the most famous and expensive NFT`s sold
