How does work NFT? || 10% for @TFC
I would like to begin my discussion today by conveying my sincere greetings and love to all the members of the esteemed congregation.।
We all know what NFT is and I discussed it in the last episode. So let's find out today how NFT works. Hopefully, this post will help you a lot to know how NFT works.
And many of you know that an NFT token is a kind of token where unique information is stored in each token using its smart contract. And this is why one NFT token is completely different from another NFT token. Suppose you have an NFT token and your friend has an NFT token. Do you think you have two tokens now? Not at all, the two of you are completely different and the two of you have to keep separate information. This means that the value of one NFT token is completely different from one to another. And each one has completely different and unique information about you. And this is the specialty of NFT. And yes, the value of that token will depend on what you have stored in that token.
A special feature of NFT tokens is that they cannot be broken, meaning that you can spend a bitcoin, but that does not apply to NFT. Non-fungible tokens are more unique than the owner of a token which determines its value. And there is no scope for fraud in NFT because it uses blockchain technology. Through which direct exchange takes place between the buyer and the son where there is no third party.
To understand how NFT works, we need to know two things. First of all, we need to know that the type of product that is being sold here must be completely unique, meaning that it cannot be matched with any other product. And there is no problem that the products can be physical or solid at the same time. Suppose you have created a digital art that only you can create and no one else can create like you then it is called NFT Solid Product. The second thing that comes to mind is that it is protected by the NFT Ethereum blockchain. As a result, no one will be able to change the sales or ownership records and no one will be able to copy the new NFT. And because of this, the buyer is able to confirm ownership of the product through a token. And since the NFT product is a little rarer, it is becoming very easy to ensure its safety. In short, through this NFT it is possible to create a document that is completely secure and reliable.
I hope you understand the whole thing. Wishing everyone good health, I am ending here today.
Thanks, everyone for reading this post.🌿
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informative post.
thanks a lot for sharing this.
thank you so much brother 😍