What is an NFT and how does it work?

A $10 bill can be exchanged for two $5 bills. One bar of gold can be swapped for another bar of gold of the same size. Those things are fungible. An NFT, though, is one of a kind. The token refers to a unit of currency on the blockchain. It's how cryptocurrency like Bitcoin is bought and sold.

What is a non fungible token (NFT)?

An NFT (non-fungible token) is a unique digital item stored on a blockchain. NFTs can represent almost anything, and serve as a digital record of ownership. Fungible vs. non-fungible Before we dive into NFTs, it’s important to understand the “non-fungible” part of “non-fungible token.”

What are the best NFT marketplaces?

Here are some popular universal and digital art-oriented NFT marketplaces currently available: OpenSea: This is one of the most established universal NFT marketplaces. You can find non-fungible tokens representing ownership of a wide variety of things, including artwork, sports collectibles, virtual worlds, trading cards and domain names.

Will National Geographic enter the NFT market?

National Geographic will enter the NFT market with a limited time collection from 16 photographers. Check out the Nat Geo Genesis NFT Collection live here. In recent years, a new digital file format has promised to revolutionize how things can be owned, bought, and sold across the internet: the “non-fungible token,” or NFT for short.