What is a NFT token?

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Everywhere there is talk of NFTs or unparalleled tokens; Rare assets that are created and transferred on the blockchain. NFTs have come as a surprise to many; A simple digital image sells for over $ 100,000. On the other hand, we hear that someone is willing to spend tens of thousands of dollars for a football player's token, which has no special use. If you have any questions about what exactly NFT building means, how you can work in this field and make and sell your tokens, read this article to the end.

In this article, I do not intend to discuss the nature and value of NFTs, and I will try to explain how to enter and operate in the field of NFTs. However, I will first give a brief explanation of what NFT is and what its benefits are.

What is NFT?

Non-fungible token, or NFT for short, is a unique digital asset. Unlike Bitcoin, Atrium, and other digital currencies that are similar and have interchangeable units, each NFT unit has specific features that set it apart from other units.

Although NFTs seem to be a new innovation, if we pay a little more attention, we are not strangers to them.

The price of a professional football shoe may not even reach 20 million Tomans, but if the same shoe was the foot of Ali Karimi, the legend of Iranian football, and with which he scored an important national goal, how much can it be worth?

How much will a postage stamp that can be bought today for less than 5,000 Tomans be worth if it belongs to the period of Nasser al-Din Shah Qajar and it turns out that Amir Kabir signed it?

Allegory tokens are valued in much the same way and with their own characteristics, except that these tokens are virtual and you can not touch them.


An NFT, similar to digital currencies (Bitcoin, Atrium, etc.), is stored and transferred, except that each unit of unique tokens has its own unique characteristics and is not of the same value as the other units.

Digital currencies are money, or at least their purpose is to be money. This means that digital currencies must not only act as a store of value, an exchange interface, and a unit of calculation, but must also be fungible. Therefore (if the conditions are normal) the value of one bitcoin is equal to another bitcoin, just as a thousand toman banknote is not different in value from another thousand toman banknote. When you lend a thousand toman bill to your friend, you do not expect to get back exactly the same bill.

But NFTs are an exception to the latter rule; That is, in the normal case, a unit of non-allegorical tokens cannot be equated with another unit of non-analog tokens; Just as you can not borrow one person's car and then hand over another car to him.

The main thing that makes an NFT different from other digital assets (such as a regular file or a diamond in a computer game) is that its ownership is registered on a blockchain (an immutable database) and no one can infringe on that ownership. . Also, as I mentioned, NFTs are stored in the owner's wallet like digital currencies (like tokens) and can be transferred in a few seconds with a simple transaction. In other words, with the help of NFTs, there is no need to go through time-consuming processes to transfer ownership (sale) of a digital asset.
Today, although there are still technical and legal challenges (ownership and copyright) to NFTs, it can be made from a painting, a photo, an in-game item, a video, an Internet domain, a ticket, and NFT.

In order not to deviate from the purpose of the article, it is enough to explain about NFTs so far. If you want to know more about them, read the article "What is NFT?" I suggest you. Also, if you do not understand why someone would be willing to pay thousands of dollars for an easily downloadable NFT image, I suggest reading the NFT Subject article.

source: https://canvas.uw.edu/eportfolios/68869/investing

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