What Is NFT (Non Fungible Tokens)? How they are different From Cryptocurrency?
Anything that can be converted into a digital form can be an NFT.
What are NFTs?
Everything from your drawings, photos, videos, GIF, music, in-game items, selfies, and even a tweet can be turned into an NFT, which can then be traded online using cryptocurrency.
what makes NFTs unique from other digital forms is that it is backed by Blockchain technology.
NFT works on blockchain as it gives users complete ownership of a digital asset.
How Do NFTs Work?
NFT works on blockchain as it gives users complete ownership of a digital asset.
How Do NFTs Work?
Cryptocurrency is a currency and is fungible, meaning that it is interchangeable.
What Makes NFT Different From Cryptocurrency?
But NFTs are non-fungible, that means the value of one NFT is not equal to another. Every art is different from other, making it non fungible, and unique.
Anyone who holds a cryptocurrency wallet can buy an NFT. That is the only thing to purchase an NFT.
Who can buy NFTs?
You don’t need any KYC documents to purchase an art.
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