What does nft mean?

Nft refers to digital works. NFT generally refers to digital works. It uploads digital content such as pictures, texts, videos and audio to the blockchain to generate a unique, interchangeable and tamper-proof code. NFT is called Non-FungibleToken, which translates into heterogeneous certificate. NFT is a unique digital certificate registered in the blockchain, which can be used to record the ownership of assets, such as your artwork or collection.

NFT noun explanation

The evaluation of NFT has two dimensions: subjective and objective. NFT is a heterogeneous token, and the homogeneous token FT corresponds to the heterogeneous token NFT. NFT is the entrance of blockchain, which is a decentralized digital ledger technology similar to cryptocurrencies such as Bitcoin. Now, artists, musicians, influential people and sports franchisees are all using NFT to monetize digital goods that used to be cheap or free.

This technology also responds to the needs of the art world for authentication and provenance in an increasingly digital world, and permanently connects digital files with their creators. NFT is completely invested in the chain, such as Avastars, Aavegotchis, ArtBlocksdrop, relying only on its own Ethereum smart contract. On the other hand, some NFT projects are simple and flexible by making their NFT rely on external off-chain providers.