NFTs have become an increasingly popular topic in the world of cryptocurrency recently. These digital assets offer a unique and exciting way for users to create digital collectables which can be traded, sold or used online in games or applications.
NFT stands for non-fungible token. In the world of blockchain technology, a fungible asset refers to something like Bitcoin, where it can be divided into smaller units and then exchanged for other assets of a similar value on blockchain.
However, a non-fungible asset, such as an NFT, is completely unique and therefore cannot be divided or exchanged for other assets of the same value. So NFTs are digital assets stored on blockchain which are not interchangeable with other assets.
An example of an NFT could be digital art, music or even in-game items. The main value in these assets is in their unique-ness, and they can be bought, sold or traded like any other asset.
As NFTs are so unique you can also prove their ownership. Each asset is stored on the blockchain and can be linked back to the holder, which can be particularly useful to prove the authenticity of digital artwork.
If you’re looking to get started in the world of NFTs, then get in touch with a member of the Navattar team today and we’ll help you design and launch your very own NFT collection from scratch until you have assets ready to advertise and market.
design an NFT
