What is NFT?

 what is NFT?


 NFT means non fungible token. NFT is a digital art in simple words. Or NFT is a unique digital indentifier that can't be replaced by something else. Unlike Bitcoin or other cryptocurrencies NFT is one of a kind card. Say, you can buy same Bitcoin as many as you want but in case of NFT these are pieces of art which don't have any copies, means you will not find a single copy of any NFT in the market.

 What is cryptocurrency? How cryptocurrency works?

 These digital arts can be traded like the real ones through the block chain technology. The ownership of NFT is recorded block chain. 



 As I am saying all these things you might think who will buy these digital arts. Actually people are buying it and loving it. As per statistics in 2020 NFT market saw $82 million of revenue. And in 2021 NFT market grew dramatically to $17 billions.


 We can assume from the above facts  that people are loving NFT and investing money on it. Also NFT creators are making lot of money out of it.


usage of NFT


 Although NFTs don't have that much usage but in future NFT's usage is expected to expend a lot. 

At the moment here are some usage of NFTs:


1.Art:

 As NFTs are basically digital arts. So, for a person who loves art and likes to collect unique things, NFTs are best collection.


2.Gaming:

  As gaming industry is growing rapidly. In 2022 the current market size value of gaming is $ 220.79 billion and can go to approximately$585 billion in 2030. So the main focus of NFT creators is in the gaming sector. 

 As online gaming is shifting to block chain, which allows players to unlock different skills and fancy armor. Players can buy these gaming assets and can sell to other players. Which is possible through gaming NFTs.


What is cryptocurrency? How cryptocurrency works?









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