“NFT” stands for non-fungible token. An NFT is a unique (“non-fungible”) digital asset (“token”) that cannot be directly replaced by another digital asset. Some people hear or see the phrase “digital asset” or the word “token” and think NFTs are a kind of cryptocurrency.
What is a NFT and why is it bad?
NFT stands for non-fungible token and it can technically contain anything digital including drawings animated GIFs songs or items in video games. NFTs are bad for the environment because they encourage use of blockchain technology and blockchains are bad for the environment.
How much does a NFT sell for?
“NFT” stands for “non-fungible token,” and NFTs are a way of proving ownership over digital goods. Although most NFTs rely on the ethereum blockchain, a few alternatives have appeared in recent years. The most expensive NFT ever sold went for $69 million. Thousands of NFT sales worth millions of dollars in total value are traded each day.
