Traditional Culture Encyclopedia - Photography major - What does nft mean?

What does nft mean?

The full name of NFT is irreplaceable token, which is translated as "heterogeneous token/irreplaceable token" in Chinese.

In short, NFT is a project of blockchain and a "unique" asset in the digital world. It can be bought and sold, and it can be used to represent some commodities in the real world, but its way of existence is invisible.

At present, most of them are digital artworks or interchangeable cards. Some are virtual goods, and some are packaged in common formats such as JPEG and PDF. Only a few NFT tokens are digital records of physical ownership.

Application scenario of NFT

At present, NFT has many application scenarios, such as digital art collection. A 4-minute short film created by Gucci creative director Alessandro Michele became an NFT digital collection with the empowerment of blockchain technology and was auctioned at a high price.

Some virtual game products also use NFT. For example, Burberry cooperated with the game platform Myth Game to launch limited-time NFT products in the game, including "Burberry Blanco" avatar, NFT jacket accessories and NFT shoes.