Jasz
VIP Contributor
•NFT means Non-fungible Token. This implies it's different and irreplaceable with any other. For instance Bitcoin is actually fungible. When you trade Bitcoin for another Bitcoin, you will have the same thing.
•A black Lexus 330 can be exchanged with a white Lexus 330 model, because they are fungible. However, the prototype of Mona Lisa and Leonerdo Da Vinci painting of the last supper are non-fungible so cannot be exchanged. They are the original copy of themselves. Just like you cannot exchange a person for another. We have different identities (DNAs).
•NFTs are registered tokens on the block chain and cannot be exchanged with each other.
•A good number of the NFTs are of the Ethereum Blockchain.
•They are Artworks, but Artworks are not NFTs. You cannot copy and paste or save it in your gallery like other artworks. NFT is not a media file in your gallery, but a token in your wallet.
•Cryptographic Technology prevents NFTs duplications.
•The Blockchain ( Ethereum ) prevents bitcoin bubble spending and increased demand. It will continue to increase in value as demand increases, so NFTs.
•They are Digital Assets.
•You cannot sell it less than you bought it. It might take time, but you will surely sell it for a higher price than the price you bought it.
•Some platforms give you some percentage when they sell the NFT purchased from you.
•A black Lexus 330 can be exchanged with a white Lexus 330 model, because they are fungible. However, the prototype of Mona Lisa and Leonerdo Da Vinci painting of the last supper are non-fungible so cannot be exchanged. They are the original copy of themselves. Just like you cannot exchange a person for another. We have different identities (DNAs).
•NFTs are registered tokens on the block chain and cannot be exchanged with each other.
•A good number of the NFTs are of the Ethereum Blockchain.
•They are Artworks, but Artworks are not NFTs. You cannot copy and paste or save it in your gallery like other artworks. NFT is not a media file in your gallery, but a token in your wallet.
•Cryptographic Technology prevents NFTs duplications.
•The Blockchain ( Ethereum ) prevents bitcoin bubble spending and increased demand. It will continue to increase in value as demand increases, so NFTs.
•They are Digital Assets.
•You cannot sell it less than you bought it. It might take time, but you will surely sell it for a higher price than the price you bought it.
•Some platforms give you some percentage when they sell the NFT purchased from you.
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