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NFT News

What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well. 

In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such. 

Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.

Sponsored
NFTs are finding a special place in the gaming industry, offering digital collectibles as incentives.
This video game platform offers token earnings by racing NFTs
Chris Jones
2021-08-05T14:59:00+01:00
15800
News
NFTs have been streamed from and to the International Space Station, Unifty decentralizes its governance, and 342 CryptoPunks may be lost forever.
Nifty News: NFTs in space, defunct CryptoPunks, Ernst & Young gets in on the act
Samuel Haig
2021-08-05T05:57:55+01:00
4437
News
The buyer, most likely in an attempt to snatch up the valuable piece before everyone else, paid an Ethereum miner 22 ETH to prioritize their bid.
Clever user makes $80K profit in CryptoPunk 'smash and grab'
Turner Wright
2021-08-04T20:45:00+01:00
14753
News
“At MakersPlace, we view our work as an investment in the future of creativity,” said co-founder and CEO Dannie Chu.
Pantera, Coinbase Ventures and Sony back NFT-focused MakersPlace in $30M Series A
Sam Bourgi
2021-08-04T16:20:00+01:00
3588
Altcoin Watch
The interplay between Axie Infinity's rising popularity among gamers and its booming revenue has helped its native token AXS become one of the top-performing di...
AXS price gains over 16% as Axie Infinity closes in on 1M daily active users
Yashu Gola
2021-08-04T15:46:40+01:00
7915
News
FTX is teaming up with Dolphin Entertainment to create an NFT marketplace that will target brands within sectors such as sports, entertainment, gaming, esports ...
FTX launching NFT sports platform, backs LCS esports league with 7-year deal
Brian Quarmby
2021-08-04T06:40:52+01:00
3301
News
Three exclusive Top Shot NFTs will be minted to commemorate this weekend’s NBA Summer League games.
Top Shot to sell exclusive NFT moments at live basketball games
Samuel Haig
2021-08-04T04:48:43+01:00
2181
News
PolygonPunks have been removed from leading NFT marketplace OpenSea, likely at the behest of CryptoPunks’ creator Larva Labs.
CryptoPunks clone PolygonPunks booted from OpenSea marketplace
Samuel Haig
2021-08-04T03:05:47+01:00
13525

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