What are NFTs?
Hello everyone Simply put, NFTs (Non-Fungible Tokens) are a way to prove digital ownership. Here are the top 3 things we think you should know about them, so you can use them safely and easily as an artist or art collector. They are built on blockchains. These are distributed public ledgers that record transactions. Each NFT is stored on the blockchain with an identification code and metadata that makes it as unique as a fingerprint. In this context, “metadata” means “data about data” and is simply a bit of extra information that describes the NFT and is stored alongside it. They’re an excellent way to mark digital assets and control their supply. Whether you’ve created a piece of music, a digital artwork or video, “minting” it as an NFT means that you can prove ownership over it (as each NFT is distinct and traceable). Previously, digital assets were fairly easy to steal. This is huge as it means artists can’t be cheated out of royalties anymore and collectors don’t have to...