What are Non-Fungible Tokens (NFT)?

NFT is a unit of data, which is basically stored in a digital ledger. NFT means Non-fungible tokens. Non-means "Not" & the similar word of Fungible is "Replaceable". We can also write Non-fungible as Non-Replaceable & Tokens that can be used to represent the ownership of unique items. Anything that is unique and creative can be NFT. Such as - Digital art, Analog Art, Photography, Audio clips, Video clips, etc.

Now let's come to the main example. Suppose you follow Mona Lisa's paintings and design them with your own hands, but that won't fall into the NFT anymore. Because there is nothing unique and innovative in that art. Fresh and unique Digital art, Analog Art, Photography, Audio clips, Video clips will be considered as NFT.

Source

At Present time there are many marketplaces for NFT publishing. These marketplaces are regulated by different ecosystems. E.g., Tron ​​Ecosystem, Ethereum Ecosystem, Binance Smart Chain Ecosystem, etc. In these marketplaces, NFT is traded with some native tokens. For example, if you want to buy and sell NFT in Tron based marketplace, you have to use trx.

NFT MINTING means that when you upload your created NFT to a marketplace for publication, it is called NFT MINTING. NFT MINTING does not make it open for sale. Only through everyone can visit those NFT items.

Listing:- If you want to buy and sell NFTs, you have to list them. Through this NFT is priced for BUY/SELL & that's where the bidding starts.

A Digital Content Creator can easily sell his/her Digital Art, Analog Art, Video Clips, Audio Clips, Gun Skins, Game Character, etc. at a high price. NFT will take the whole world to the next level.

I will discuss NFT in more detail in my next post. So, till then TATA BYE BYE

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