The Full Story
Non-fungible token (NFT), is a unique token - a type of cryptographic token, each instance of which is unique (specific) and cannot be exchanged or replaced with another similar token.
Each of the NFTs is unique and exists in a single copy, it cannot be divided, and all information about its author, buyer and all transactions with it is securely stored in the blockchain. In other words, an NFT is a digital certificate attached to a unique entity.
Almost any work of art, gems, jewelry, antiques, real estate, manufacturing facilities and technology, etc., can be sold or bought using NFT tokens.
Buying NFT tokens on the NFT market not only allows you to get unique items in your ownership, but also provides the ability to safely trade (resell) these items in the secondary market without actually moving it.
The growing NFT market can be viewed as a market for unique real Assets that have the potential to preserve and diversify capital, as well as increase it. NFT tokens presented on the NFT markets have a wide range and price variety of investment items, with the possibility of buying both for fiat currency (USD, EURO) and for cryptocurrency.
NFT token is an innovative tool that simplifies and facilitates cross-border trade and financial transactions.
Professor Donna Redell, an expert on blockchain and cryptocurrencies at Fordham University, shared her opinion on the development of NFT.
She notes that the "rebirth" of NFT in 2021 is closely related to progress in the blockchain infrastructure itself.
The blockchain is evolving, the opportunities for transactions are growing, and we are at the very beginning of this journey. We are just starting to work with this topic, and many specialists - extremely smart, versed in finance, technology, art - are currently experimenting and looking for new ways of how we can use blockchain, cryptocurrency and tokens in our lives and in the future.