What is NFT?

NFT is changing the way we think about ownership on the web. This is an abbreviation of the words Non-Fungible Token. NFT is therefore a digital certificate that confirms the uniqueness of various goods in a digital version.

This token can be compared to a virtual stamp on a work of art or a collector's item. It can be an image, GIF, music, video or even a virtual piece of land in the game. The bottom line is that each NFT has its own unique number that confirms that you own something unique – only in the digital world.

What forms does NFT take?

But that's just the beginning! NFT can take many forms. You may have an NFT for a digital replica of the work of a great artist that would be too expensive for your pockets. Or it could be a collection of virtual cards with images of artists. Even athletes are releasing their NFTs. They have a collector's value, the greater the more famous the person who publishes them is and the rarer the work is.

Cryptocurrencies or NFT?

Cryptocurrencies are speculative tools and, to a lesser extent, a means of payment. You can trade them on the stock exchange or invest your funds in them for a longer or shorter period of time. You will make a fast and inexpensive transfer of funds even to the other end of the world. In some places, you will also pay for goods and services. The value of cryptocurrencies rises and falls, as is the case with traditional currencies.

NFT is a completely different category. They are like virtual certificates of ownership, confirming that you own a specific good. They are not fungible, i.e. each NFT is unique and cannot be exchanged for another token, just like you cannot convert an image into a song.

NFT brings the world of collectors online

What's so exciting about NFT is that everything happens online. You can browse, buy and sell NFTs at any time, without having to go to a gallery or store. It's like expanding your world with virtual treasures that you can show to others.