(1) What is an NFT?

Understanding 101: NFTs.

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(2) An NFT (non-fungible token) is a way to prove ownership of an asset, both digital & physical.

It proves ownership of an asset by utilising the blockchain; a public, permanent and immutable ledger which contains all transactions that occur between parties.
(3) A popular example is Crypto Art.

NFTs allow digital art to be treated like physical art. They allow the authenticity of an artwork to be shown globally and it can be a 1/1 artwork that proves ownership.

An NFT has a unique ID on the blockchain meaning it cannot be forged.
(4) → Crypto-Currencies

A crypto-currency is a digital asset designed to work as a medium of exchange where the transactions are all recorded on the blockchain. You can buy goods & services or trade them.
(5) → Ethereum

Ethereum is the second biggest crypto-currency and the main currency used for purchasing Crypto Art and NFTs. This doesn& #39;t include others that you can purchase NFTs with, Ethereum is a separate currency and $ETH is the ticker that represents it.
(6) If you made it here, drop a retweet on the original post if it helped you understand NFTs a bit more.

A little bit more in-depth (Beginners) article where I took the information from can be seen here: https://www.loop-news.com/p/beginners-guide-crypto-art-and-nfts">https://www.loop-news.com/p/beginne...
(7) And, these are all the basics.

NFTs go a lot further than this. So many more possibilities and markets to explore. Here is an article I did if you are interested in reading more: https://www.loop-news.com/p/the-endless-possibilities-of-nfts">https://www.loop-news.com/p/the-end...
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