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NFT is a non-fungible token stored in a blockchain in form of a digital ledger. It is a non-interchangeable token that can be sold and traded. NFTs can be considered modern-day collectibles. NFTs use cryptocurrency as their underlying payment method. Non-fungible tokens are files that live on a blockchain and verify ownership of a work of digital art. They are built using the same blockchain technology like cryptocurrency and can be used to verify the ownership of digital assets including art, music, videos, games, and even tweets. But what’s the difference between crypto and NFTs? In finance terms, a fungible item is a commodity such as money that may be replaced with another equal part. For example, a bitcoin is fungible and can be traded for another bitcoin. However, a non-fungible asset, such as a one-of-a-kind trading card, can’t be replaced.
