What are NFTs and how do they work?

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If you use the internet regularly, you’ve probably heard about NFTs.

But what are they, and why is there so much buzz around them?

Let’s start with the basics. “NFT” is an acronym that stands for Non-Fungible Token.

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Dr. Jenna Crowe-Riddell

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NFTs work as verifiable assets with unique identifiers and attributes that give them worth.

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They are an individualized digital commodity that can’t be exchanged for another asset, but only for themselves.

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This is what being “non-fungible” means —and why non-fungibility matters in crypto.

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What are NFTs and how do they work?

CULTURE

BY MAIA MULKO

If you use the internet regularly, you’ve probably heard about NFTs.

CULTURE

But what are they, and why is there so much buzz around them?

CULTURE

Let’s start with the basics. “NFT” is an acronym that stands for Non-Fungible Token.

CULTURE

Dr. Jenna Crowe-Riddell

In a digital world where every file is reproducible, Non-Fungible Tokens are a special kind of digital file that represents a single unit of value.

CULTURE

NFTs work as verifiable assets with unique identifiers and attributes that give them worth.

CULTURE

They are an individualized digital commodity that can’t be exchanged for another asset, but only for themselves.

CULTURE

This is what being “non-fungible” means —and why non-fungibility matters in crypto.

CULTURE

More in the article.

CULTURE

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