What is an NFT & how does it work?

An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the NFT's authenticity and who owns it. So unlike most digital items which can be endlessly reproduced, each NFT has a unique digital signature, meaning it is one of a kind.

What are sorare NFTS?

SoRare NFTs cross over into our next entry, around play-to-earn NFTs. Play-to-earn (P2E) gaming NFTs is also known as GameFi. Online gaming has historically offered in-game assets to enhance the experience like weapons and armor to be purchased from the game developer or platform.

Who can view NFTS?

While anyone can view the NFT, only the buyer has the status of being the official owner – a kind of digital bragging rights. Buying an NFT of an image or video does not normally mean the buyer gets the copyright of the underlying item. WHAT KIND OF NFTS EXIST?

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.