NFTs: Fractional Ownerships Gateway To Real Estate?
Non-fungible tokens, or NFTs, have taken the digital world by storm, transforming how we perceive ownership, art, and even community engagement. From million-dollar digital artworks to collectible virtual items, NFTs represent a paradigm shift in the creator economy and beyond. This comprehensive guide will delve into the intricacies of NFTs, exploring their technology, use cases, and potential impact on various industries.
What are NFTs?
Defining Non-Fungible Tokens
NFT stands for Non-Fungible Token. The term "non-fungible" simply means unique and irreplaceable. Unlike cryptocurrencies like Bitcoin, where each coin is identical and interchangeable (fungible), each NFT is distinct and has its own unique identifying information.
Fungible: Interchangeable; one unit is exactly equal to anothe...