Recently, over multiple social media platforms, I have been seeing some images being called a ‘NFT’.
After seeing that, I decided to do some research on my own.
I have found out that a NFT is a “Non-fungible token.”
My next response was to google, what does fungible even mean?
I have also found out that fungible means it is able to be replaced.
A NFT can also have 1 owner.
A NFT stores who the owner is, so then you can trade the NFT for money, and you can buy them.
So NFT’s are just paintings like the Mona Lisa, tand copies can’t be sold for similar values. The only difference is that NFTs are bought with bitcoin.
So why are people giving these NFT’s so much value?
These NFT’s are selling for the equivalent of hundreds of thousands USD. Honestly, I wish I could tell you, but I don’t know.
These images aren’t outstandingly beautiful at all.
That’s what an NFT is, and maybe if you just happen to be rich in bitcoin you can go buy your own.