| title | datePublished | cuid | slug | cover | tags |
|---|---|---|---|---|---|
What are NFTs? |
Thu Oct 20 2022 19:04:39 GMT+0000 (Coordinated Universal Time) |
cl9hfmztl000a09mrcisq6yej |
what-are-nfts |
nft, nft-marketplace-development-nft-marketplace-nft-marketplace-development-nft-marketplace-development-company-nft-marketplace-development-service-non-fungible-tokens |
** NFT** stands for Non-Fungible Tokens,
![giphy.gif](https://cdn.hashnode.com/res/hashnode/image/upload/v1666288692551/4-3h3hZBr.gif align="left")
Non-fungible is an economic term that means an unique item without interchangeable value, for a digital artist this can be an unique piece of art, for a creator it can be a song file and for a **manufacturer **of software it can be a program file.
Fungible in economic terms stands for items that are non-unique and interchangeable for each other. For example currency, 1USD will buy you a chocolate, the value of the dollar bill is set and it is not unique, there are many 1 dollar bills and each bill will buy you a chocolate that costs 1USD.
![giphy (1).gif](https://cdn.hashnode.com/res/hashnode/image/upload/v1666292581074/kbJpeX76j.gif align="left")
NFT's transforms digital assets by adding a *unique * digital signature, that makes a blockchain based digital certificate like many cryptocurrencies. It *secures *digital assets from being copied, forged or shared as without the *original *digital signature, the *authenticity *and *legitimacy *of the original digital asset created will not be present.
An example,
Imagine a *photographer * takes a photo of Skyscraper, he digitizes it and buys a NFT token for this photograph, this photo is now secured as his unique digital asset, which means even though people can share this photograph on social media or use it as their wallpaper, they do not own the original creator signature for that digital asset, if someone wants to buy the original photograph, they will need to verify the NFT token and purchase it from the photographer.
NFTs have recently been in the news drawing a lot of **celebrity ** attention and invest.
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