What are NFTs?
NFT (Non-FungibleToken, Non-FungibleDigitalProofofInterest), with the support of blockchain technology, can be used as an on-chain proof of equity for digital goods such as digital artworks and event tickets.
Each NFT is mapped to a unique serial number on a specific blockchain, which cannot be tampered with, indivisible, or substituted for one another. It is these qualities that make NFTs an excellent carrier for digital artworks. Each NFT represents a specific digital artwork or a limited-edition single copy of it, recording its immutable on-chain rights.
Therefore, NFT is fundamentally different from virtual currencies and other equivalent tokens. It is supported by the actual value of digital goods and does not have any monetary attributes such as payment functions.
Why are NFTs so popular?
As an NFT collector, you have a copy of a specific digital artwork behind each NFT. Not only can you view the works and enjoy the wonderful experience of collecting, but you can also share your collection insights and happiness with your friends.
With NFTs, the boundaries of art collections can be extended to the digital world, not just the physical world. In this way, art collecting becomes more popular and more people can become digital art collectors with limited funds without having to worry about the storage and circulation of physical art collections.
What does it mean to be unique about an NFT?
The reason why NFT is unique is that it is based on blockchain technology and has established a unique mapping relationship with specific digital goods from the day of its birth, and can serve as the corresponding and only proof of rights for digital goods on a specific blockchain.
If the NFT is on limited sale, you will join a small number of other collectors to obtain pieces with different on-chain serial numbers. At the same time, during the transaction process, the transaction information of the unique equity certificate will be stored on the chain through smart contract records, achieving trustworthy traceability. However, it should be noted that unless the issuer has a special agreement, NFT is only unique on the current specific blockchain.