what is 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.।
See, if you want to work on a subject, you must have enough knowledge on that subject. And I'm very interested to know about NFT. So I started fighting and learned a lot.
- What is NFT?
A lot is going on in social media right now about NFT. This NFT has become the focus of everyone's discussion. And those who talk a little bit about this issue, maybe everyone knows more or less.*
The full form of NFT is ″ non-fungible token ″ which means it has its own unique properties that no one else can take or change.
- Let's take a look at fungible, non-fungible, and token:
Fungible:
See if I buy a product from a store and the price of that product is fifty rupees. So I bought the product and took out the wallet to pay the shopkeeper. But I saw that I did not have any retail money so I gave him a hundred rupees note. Now the thing is the shopkeeper will give me back fifty rupees. But he can return the money anyway. Suppose he can pay fifty rupees with a twenty rupees note or a ten rupees note. The main issue is how he will give me the money. The real issue is the money he will give me. So the point here is clear money is fungible.
non-fungible:
Suppose you bought a book. And this book is the first book of the author's first publication where the author has signed. But a few days later a friend of yours took the book from you to read. But after a while, he said that he would not return the book but would buy the new book. But the point here is that the book that was in the first publication will not be a new copy of the antique one, that is, you will not be able to buy that book even if you want to. But the book that is in the next publication will be available all the time. That is, the book in the first edition is non-fungible.
token:
See Simply put, a token is a product or digital art to be digitized by saving its document or history after buying or selling it.
And the reason for these differences is that NFT is gaining popularity day by day. Suppose someone has a digital art and if he keeps it NFT. If you want to, but no one can claim the art as their own because the original owner's name is already registered in the blockchain database. Can't change or steal. And there's no point in cheating. And this NFT is a kind of digital asset that brings Internet collectibles like art, music, and games under blockchain technology and gives them authentic certificates.
I am ending here like today. See you in the next post. I wish you all good health till then. Everyone will be fine.
Thanks, everyone for reading this post🌿
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