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lifeascoder
lifeascoder

Posted on • Updated on

What exactly is NFT? Begginer intro to NFT.

You all have been heard about NFT, right?
If not, Don't worry. This post is for you. In this post You can know more about NFT. But before that, we need to know about Crypto Currency.

Crypto currency is a digital currency which doesn't rely on banks. It is monitored and organised by using peer-to-peer network called BlockChain.
For ex. - Buying, selling and trading Bitcoin, Ether, Litecoin, Dogecoin etc.

Now you know CrytoCurrency. But what about NFT? NFT is also known as Non-fungible Token. It is the trading and selling of Images, Videos and Audios online. It is also a type of Cryptocurrency. It is maintained by Blockchain UI/UX. It is mostly like a image museum online. It is published in websites like Openseas etc.

I am talking as a begginer friendly method. I am not saying the whole concept but many people don't know the concept. I am writing this for those people.

      _The danger part!?!_
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We can upload, Sell and trade NFT's but If it's on Web browsers, You can just right click and save the image and re-upload for a greater price. EASY!!!. But here comes the BlockChain UI/UX.

It ensures that nothing like that happen.
It's mostly like a security system. So that's the concept. I am not talking the full NFT. It's just the concept.

Top comments (3)

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Thomas Bnt ☕

Probably better if you share this on MetaPunk, part of the Forem network of communities dedicated to this topic - there's no coding content to this post, so it is less suitable for DEV.

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lifeascoder

Ok. Thank You for the information.

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domters profile image
Mike Peters • Edited

Hey there. Quite interesting post, here I found a lot of useful info! I'm interested in such modern technologies and always trying to read fresh articles and watch videos from experts in this field. As I understood NFT stands for non-fungible token and represents a unit of data stored on the blockchain.