In this article we can talking about NFT| nft meaning| nft art. What are NFTs used for?
NFT (Non-Fungible Token)
nft full form: NFT stands for Non-fungible.
According to Collins Dictionary, in the year 2021, NFT has become the most used word.
The Collins English Dictionary is published by HarperCollins in Glasgow.
What is NFT?
NFT- Non-fungible tokens are a kind of digital assets, or it can also be called a kind of data, which we can use to represent the ownership of unique goods.
NFTs is recorded on the Blockchain, is a kind of Digital Token, in this any image, game, video can be monetized by converting it to NFT.
NFT| nft meaning| nft art
These digital assets can be bought and sold only through Cryptocurrencies.
NFT is quite unique, it has a unique ID code, so 02 NFTs can never match among themselves.
Let us tell you one more thing that they can never be duplicated.
It can only have one official owner at a time and they are secured by the Ethereum Blockchain.
NFTs can also be made and sold by yourself, from this you can also earn Royalty, for which you will not even need a middleman.
NFT art is what?
An NFT is a digital asset that can only be owned digitally and exists entirely in that realm.
Any sort of digital item, including music, artwork, articles, and memes like “Disaster Girl,” whose original image sold for $500k earlier this year, might be an NFT.
What does “Non Fungible Token,” or NFT, actually mean? Well, it helps to know what a “Fungible Token” is first.
If we think of it in terms of money, a $100 bill is a fungible token since it can be exchanged for five $20 bills and yet retain its worth.
Which is better Cryptocurrency vs NFT?
NFT v/s Crypto
Talking about Google Trends, this year more NFT has been searched on Google than Crypto.
That is, it would not be wrong to say that NFT has been ahead of Crypto.
The market cap of NFTs has reached Rs 700 million at present.
Talking about 2020, the average value of NFT was $ 24.98 on January 1, 2020, which had increased to $ 913.48 by the month of November.
Talk about NFT in the early month of 2021, its monthly sale was about $ 400 million, which has now increased to around $ 2 billion.
In this way we can understand that the interest of people is increasing very fast towards it.
Now let’s talk about Top 5 NFTs
|The Merge||91.8 million dollars|
|Everydays-The First 5000 Days||69.3 million dollars|
|Human One||28.9 million dollars|
|Cryptopunk 7523||11.75 million dollars|
|Crytopunk 3100||67 million dollars|
After all this information, you must have now come to know that which one to invest in, which is better Cryptocurrency or nft?