What is NFT? How it will affect your Life in Future.

 

Bitcoin is spreading like a Fire in  the forest , everyone is rushing to buy Bitcoin to get profit in near Future . Bitcoin  and other cryptocurrency works on Blockchain. Same NFTs also work on the Same technology. To know what the hell NFTs are . Read the Blog  till the end.

                                   What is NFTs

Non fungible Assets Tokens (NFTs) refers to to a digital artwork whose unique identity are verified on blockchain. NFTs are generally created by uploading files, such as digital artwork , to an auction market which creates copies of file , which are recorded as NFTs on the digital ledger. Token then can be bought with cryptocurrency and resold.

NFTs is a new way to commodify digital creations , such as digital art , video games items and music files. NFTs can be used to cause artificial scarcity of digital work by making one NFT which works with unique digital signature.

The Unique Identity is verified via the blockchain ledger. NFTs are also used to create the possibility of assets interoperability across multiple platforms.

                                       Uses

 Digital Art 

NFTs have ability to provide proof of authenticity and ownership of digital art, which makes it reliable.

Recently some digital creators sold their artwork on NFTs in Millions of Dollars.

Games

Video Games assets are controlled by game developers but with the use of NFTs users will have full control on the assets . It will allow the assets to be traded on third party marketplace without permission from developers. 

      Thank you to Read this Blog.