Post
Topic
Board Altcoin Discussion
Re: What is NFT basically
by
ardydyon
on 15/03/2022, 14:53:58 UTC
I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?
NFT (non-Fungible Token) is part of the blockchain, unique and non-transferable with others. Anyone can print it and can even make it almost exactly like the real thing. However, it will be different in the eyes of a collector. This is what distinguishes other cryptocurrencies that are included in the blockchain system.
The relationship with the token is as a means to make a purchase or sale transaction of an NFT using the token in question
NFT gives a new color to the blockchain world which certainly makes it more interesting.