An NFT (non-fungible token) is a way to prove digital ownership of something. It is a unique and non-interchangeable piece of a blockchain (in this case, the Ethereum blockchain!). This means that it cannot be replaced with something else.
In a very basic sense, you can think of an NFT like a one-of-a-kind trading card. If you own that card, you can trade it with someone else, gift it, sell it, or simply admire it as part of your collection. The same goes for NFTs!
Once you understand the basic concept, you can start digging into more interesting applications of NFT utility. These include joining a DAO, plugging into third party homes, and redeeming NFTs for real world items or experiences. We believe that as more NFT utility becomes available, it will have radical implications as our real lives and digital lives continue to blend in important and interesting ways.
If you still are having trouble wrapping your head around the idea, we get it! Everyone’s been there. That’s why we curated a reading list to get you up to speed fast. Think of it as a “Welcome to the Metaverse” gift from us to you 🤝
- Non-Fungible Tokens Explained
- Adobe's CPO on why crypto art is likely the greatest unlock of artist opportunity in 100+ years
- What is an NFT, Beeple, and why is the non-fungible art marketplace worth millions?
- The NFT Skeptics Guide
- NFTs and Crypto Art - The Sky Is Not Falling
- Tim Sweeney and The Metaverse
- So you bought an NBA top shot NFT, what do you actually own?
- What is an NFT, and why should photographers care?
- NPR - What is an NFT?