There is no doubt that the term NFT has been bandied about a lot in the technology world recently. Your proposal, which is an acronym for "non-fungible token" (or non-fungible token in a more literal translation), may perplex some people, so we'll explain a few things here.
Ok, we understand that the above translation, or even what the acronym stands for, isn't very helpful at first. Imagine a digital object that has no monetary worth but is connected with a cipher for whatever reason.
Let's take a real-life example: in recent years, it's become normal to see memes for sale on the internet. The strange thing about this story is that memes are usually free to use, yet purchasing this digital item makes you the owner of it.
Consider anything digital that has no monetary value but, for whatever reason, is associated with a cipher: this is an NFT.
However, we can't just include memes on this list because almost anything that exists digitally (such as art) can be promoted in this manner. Naturally, this list excludes cryptocurrency, stock exchanges, and other such entities.
In the coming posts, I'll delve deeper into the great world of NFTs, including how to produce, sell, and keep on top of the latest craze.
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