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.

When did NFT come out?

In October 2015, the first NFT project, Etheria, was launched and demonstrated at DEVCON 1 in London, Ethereum's first developer conference, three months after the launch of the Ethereum blockchain.

What is a non fungible token (NFT)?

The cards are being offered as a "non-fungible token" (NFT), a way of owning the original digital image. Where Bitcoin was hailed as the digital answer to currency, NFTs are now being touted as the digital answer to collectables, but plenty of sceptics fear they're a bubble waiting to burst. What is a non-fungible token?

What is the NFT Bay?

So someone created this site called The NFT Bay as a sort of art project, where they put up a torrent pointing to a 19TB ZIP file, which they said included every NFT on the Ethereum and Solana blockchains.