#concepts.currencies #concepts.nft Salvar na seleção
NFTs (non-fungible token)
NFT, or "non-fungible token", is a new way to represent the digital property of an object, such as an image, video, sound or even a tweet. What makes NFTs unique is that they are created using blockchain technology, which is a secure and reliable way of recording and storing information on the internet.
NFTs are created using smart contracts, which are programs that automatically execute the conditions set by the creator of the NFT. For example, an NFT creator can establish that the NFT is the only copy of a certain image, or that the NFT can only be transferred to another person with the creator's approval. These conditions are stored on the blockchain and are automatically executed by the smart contract.
Blockchain is a decentralized network of computers that work together to maintain a shared, immutable record of all transactions. This means that once a transaction is recorded on the blockchain, it can never be changed or deleted. This ensures that ownership of an NFT can never be questioned, as the original transaction is recorded and backed by the blockchain network.
NFTs can also contain metadata, which is additional information about the digital object. For example, an NFT of an image can contain information about the artist, the date of creation, and the story behind the creation. This metadata is also recorded on the blockchain, ensuring that it can never be altered or deleted.
NFTs are used to uniquely sell and buy digital objects, guaranteeing sole ownership of the object. For example, an artist can sell a single copy of their artwork as an NFT, ensuring that only the buyer has sole ownership of the artwork. This is different from selling a digital copy of the work, where anyone can make an exact copy of the work and own the same thing.
Additionally, NFTs are becoming increasingly popular for selling artwork and other rare and valuable digital objects. This is possible thanks to the unique characteristics of NFTs.
