What are NFTS & how do they work?

They are assigned unique identification codes and metadata that distinguish them from other tokens. NFTs can be traded and exchanged for money, cryptocurrencies, or other NFTs—it all depends on the value the market and owners have placed on them. For instance, you could use an exchange to create a token for an image of a banana.

What is the NFT craze?

The NFT craze has seen celebrities racing to mint their own non-fungible tokens. They've used NFTs to tokenize everything from music to artwork, to special live experiences. Internet trends in the 2020s can be scary, confusing things.

How stable is an NFT?

NFTs usually don’t contain digital assets themselves, so often, any given NFT will only be as stable as the computer (or network) that stores the asset’s file. Even if the computer storing the asset is properly maintained, it’s hard to prevent “bit rot,” or data’s tendency to degrade over time.

What is a non fungible token (NFT)?

Non-fungible tokens (NFTs) are assets that have been tokenized via a blockchain. They are assigned unique identification codes and metadata that distinguish them from other tokens. NFTs can be traded and exchanged for money, cryptocurrencies, or other NFTs—it all depends on the value the market and owners have placed on them.