What are NFT’s?
Let’s start with decoding the NFT. It stands for non-fungible tokens. But if you never heard of NFT’s that most probably did not make it any less clear, so let’s get into a little more detail.
Non-fungible tokens are a form of digital files verified on a blockchain. The non-fungible part means that it can’t be interchanged with other similar items, it is unique and one of a kind, that is verified and secured on a blockchain forever.
For example, money is fungible and interchangeable you can change one 10 euro banknote with another and the value will still remain at 10 euros, however, you can’t do that with NFT’s because the value of a digital item stems from the fact that it is one of a kind digital item.