What is an NFT & how does it work?

An NFT certifies the ownership, origin, uniqueness, and permanence of a digital collectible. NFTs differ from traditional digital currencies such as Bitcoin, Ethereum, and Dogecoin in some ways, such as the fact that they both represent digital assets and operate on top of a blockchain network.

Are NFTS a good investment?

While NFTs’ energy use has come down dramatically, NFTs are a key on-ramp for many people into the broader “crypto” space. By itself, the best-known blockchain Bitcoin leads to millions of tons of CO2 and thousands of tons of electronic waste each year.

Can you buy a painting if it's a NFT?

It could be a house, or a painting such as the Mona Lisa, which is one of a kind. You can take a photo of the painting or buy a print but there will only ever be one original painting. NFTs are "one-of-a-kind" assets in the digital world that can be bought and sold like any other piece of property, but which have no tangible form of their own.

Can NFTS be forged?

The records cannot be forged because the ledger is maintained by thousands of computers around the world. NFTs can also contain smart contracts that may give the artist, for example, a cut of any future sale of the token. How much are NFTs worth?