Owning an NFT is like owning a work
Posted: Mon Apr 21, 2025 6:01 am
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No? I understand, I was confused too.
In practice, “non-fungible” means that it is a unique token, which cannot be replaced with anything else.
To give you a clearer idea, still in the context of blockchain, a Bitcoin is “fungible”, that is, the exact opposite of unique and non-replaceable. If you were to exchange a Bitcoin for another, you would have exactly the same thing.
of art handcrafted by an artist and not replicable. If usa email list you were to exchange it for another work, you would have something completely different.
Of course, I don’t know if I’d classify Dorsey’s tweet as “work,” but to each his own.
What makes NFTs so special and unique? Behind the appearance you see on your device is a unique and non-interchangeable code stored on a digital ledger that uses blockchain technology to prove ownership.
A ledger, literally “master book”, is a distributed register on which blockchain technologies and networks are based. All nodes in the network have the same thing as a database that can be read and modified independently by each individual node.
I know, I know, it may seem too complicated but trust me, it is not at all. You just have to get the hang of it.
NFTs are nothing more than digital assets that have value, just like you would own a traditional work of art.
No? I understand, I was confused too.
In practice, “non-fungible” means that it is a unique token, which cannot be replaced with anything else.
To give you a clearer idea, still in the context of blockchain, a Bitcoin is “fungible”, that is, the exact opposite of unique and non-replaceable. If you were to exchange a Bitcoin for another, you would have exactly the same thing.
of art handcrafted by an artist and not replicable. If usa email list you were to exchange it for another work, you would have something completely different.
Of course, I don’t know if I’d classify Dorsey’s tweet as “work,” but to each his own.
What makes NFTs so special and unique? Behind the appearance you see on your device is a unique and non-interchangeable code stored on a digital ledger that uses blockchain technology to prove ownership.
A ledger, literally “master book”, is a distributed register on which blockchain technologies and networks are based. All nodes in the network have the same thing as a database that can be read and modified independently by each individual node.
I know, I know, it may seem too complicated but trust me, it is not at all. You just have to get the hang of it.
NFTs are nothing more than digital assets that have value, just like you would own a traditional work of art.