NFT Craze... What is a NFT?

NFT stands for non-fungible tokens, or more commonly knows as NFT's. They seem to be everywhere you look now a days but what exactly is it?

NFT's are a gateway into the world of cryptocurrency and make it fun for the average consumer. NFT's are linked to the blockchain--an online ledger that is maintained by thousands of users globally through the process called mining. These transactions on the blockchain aren't centralized so all in all it makes it harder to make fraudulent transactions. Non fungible means that it is entirely unique. If you purchase an art NFT for example, anyone can look at the picture like they would in an art museum but the holder of the token itself is an indicator of the purchase.

The future of NFT's is bright and we are interested in how artists, musicians, and even companies may choose to use NFT's to add value and reduce knockoff's and fraudulent transactions in the future.

#crypto #nft #mining