Non-fungible Tokens are those unique tokens that are impossible to divide or merge with other tokens of their class or category, the nft do not mix with each other, examples of these are pieces of digital art, collectibles, video game skins, virtual earth, a certificate of compliance, etc. A clearer example of the difference between a non-fungible token and a fungible token would be:
If a person named Luis has a dollar and lends it to his friend Pedro, after several days Pedro returns a dollar to Luis, it will not matter that that dollar is not exactly the same dollar that Luis lent him, since the value is exactly the same, so there is no distinction, making it fungible.
However, if Luis lends Pedro a super rare card from a well-known soccer player like Cristiano Ronaldo and after several days Pedro returns a different soccer card, from an unknown player and a common version, obviously, the value and the qualities of the card would be different, therefore, it would not have the same value as the Cristiano Ronaldo card, each of these unique cards are non-fungible
The NFTs are unique assets, which are not repeated and are not the same as the other tokens, even if they are visually similar, each one has a specific code, in themselves they are limited. These cannot be exchanged for something else that has the same value, these are exchangeable for a value of money.
The collection of NFTs are fashionable and they are doing a very strong business, many celebrities are creating their own NFTs and are generating millions of dollars thanks to sales or auctions of these. A very recent case is that of Logan Paul, since he released 3,000 personal NFTs and only the first day he sold 1,772 generating 3.54 million dollars. His NFTs were pictures of him with some pokemon cards.
In my opinion, NFTs are the future of the market, although we do not realize it at some point we will buy an NFT. Digital artists will make designs to sell them as NFT, since it is economically very profitable, I do not rule out the idea of working on it, since I am a fan of digital drawings, or at least entering the market of buying and selling, it is a good time to enter this world!
Hi friend, excellent information, I haven't really read much about it, so thank you for educating us a little more. Today we must be informed and more when we are so attached to this digital age. Greetings and thanks for sharing it.
Hi @nahela, thanks for sharing this information I have more clear what are the NFT, now I understand why there are times where I see that a card of a famous athlete costs so much money.
Thank you.
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