Nft

What is an NFT? Explained in 59 seconds #shorts



You’ve probably heard about this thing called an “NFT” but what is it, and why do you need to know about it?
In short, NFT stands for non-fungible token.
If an asset is fungible it means it can be replaced or exchanged and its value will stay the same. For example, 5 $20 bills have the same value as 1 $100 bill.
Therefore, non-fungible assets cannot be substituted. These are assets like land, homes, or even baseball cards. Their value is defined by their own unique qualities which can take away, or add value.
Now those examples are physical. NFTs are digital assets, or, tokens.

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7 Comments

  1. So how are those NFTs going for y’all? Anyone holding out in hopes that this wasn’t a massive scam that you fell for?

  2. Ok. Have you ever owned something, like an original comic book or baseball card or art work, and got a feeling like, "There may be copies like this out there, but I have THIS original. THIS one is MINE!"

    No? You aren't an asshole? Well, some people get that feeling. An NFT is that feeling, but without a physical object attached to it.

    Yes. You're buying insipid smugness.

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