What do you need to know about NFTS?

Here’s what you need to know about NFTs. What is an NFT? NFT stands for non-fungible token. They're are a type of crypto asset, meaning they are digital assets rather than physical. Also, while they can hold monetary value like any other asset, they are not considered a cryptocurrency. Non-fungible refers to the fact that each NFT is unique.

What is a photography NFT?

A photography NFTis a unique digital asset that represents a specific photograph or artwork. It is stored and recorded on a blockchain, a decentralized, immutable digital ledger technology. Photography NFTs are stored and transferred digitally, allowing them to be easily shared and displayed online.

Are NFTS fungible?

NFTs function like cryptographic tokens, but unlike cryptocurrencies, NFTs are not usually mutually interchangeable, so they are not fungible. [a] A non-fungible token contains data links, for example which point to details about where the associated art is stored, that can be affected by link rot.

What is a community NFT?

Those are what are known as community or pfp (profile picture) NFTs. Basically, they’re a series of unique but thematically related NFTs, released in limited batches. Once they’re released or “minted,” these NFTs become a kind of digital collectible, and a membership card to an exclusive club.