[Danslahm Video] What is NFT? The definition of NFT

NFT is called Non-Fungible Token, which is indivisible, irreplaceable, and unique. The opposite of non-Fungible is Fungible. So, what is Fungible?

 

It’s simple! For example, if I have a $100 and you have a $100, at this moment, there is no difference between your $100 and my $100, they can also be exchanged, and if I find that there is not a whole $100 in my bag, I can exchange two $50 bills with you. It’s also worth $100.

 

So, these $100 are interchangeable, they have the same value, they can be divided, they can be replaced, and that’s Fungible.

 

But Non-Fungible is like your $100 with Beyonce’s signature on it. At this moment, this $100 has become a unique and special item, and its value has changed. After all, $100 could be worth 30 million in front of Beyonce’s fans, who are willing to pay many $100 for a unique $100 just because it has a signature that no other $100 can replace.

 

Obviously, this “$100” is irreplaceable, and the value in everyone’s eyes is not the same. This is non-Fungible.

 

To put it more simply, putting a bunch of NFTs together is like watching Pop stars in the 1990s like Michael Jackson or Mariah Carey. Each of them is beautiful, but more importantly, they are also distinctive and recognizable. Each of them is unique and irreplaceable, which is non-Fungible.

 

However, stacking a bunch of Ethereum’s fungible tokens together is like looking at a boy band and a girl band nowadays. They all seem to look the same. It seems that replacing them will not make much difference. This is Fungible.

 

In the crypto world, tokens like Bitcoin and LUNA are fungible tokens that are not unique and can be exchanged and divided equally.

 

But boring APE and Jay Bear are NFTs. NFTs are unique, just as a painting cannot be torn in half. NFT is indivisible.

 

Although everyone is emphasizing the non-fungible of NFT, don’t forget that NFT is also a token. All the NFTs that tokens can do can also be done, and NFTs have the same features as a token, such as digital proof of interest, encryption, and circulation.

 

Today, there is a lot of success in NFT applications, and more diverse forms of NFT are emerging. It is clear that the market will evolve to create more innovative NFT applications, and we have always believed that the time will come when everything can be NFT.

 

Original video’s link:

 

Website:https://www.0x90.club/post/what-is-nft-the-definition-of-nft

 

YouTube:https://www.youtube.com/watch?v=p0rNEvZPJdk&t=26s

 

Medium:https://medium.com/@danslahm

 

Twitter:https://twitter.com/0x90_official/status/1537695560915746816?s=21

 

Bilibili:https://www.bilibili.com/video/BV1Jv4y1G7vE?spm_id_from=333.999.0.0

 

Zhihu: https://www.zhihu.com/zvideo/1519092219935559680

 

Weibo: https://weibo.com/u/2755094997

 

Xiaohongshu:https://www.xiaohongshu.com/discovery/item/62a4e8fd00000000010270c9

Related Posts

40 Sauber Hot Für bonus 400 casino nüsse Zum besten geben

Content Ist Sera Vorstellbar, Sizzling 6 Für nüsse Dahinter Zum besten geben? Wheel Of Triumph Slot Ministerpräsident Kasino Dolfwin Spielsaal Nachfolgende Reihe der Spiele, nachfolgende sera inzwischen…

11 Beste casino spiele online mit startguthaben Deutsche Dating

Content Worte Bei Unseren Sicherheitsbewussten Kunden Triff Ich Echte Menschen Durch Heterosexuelles Dating? Haushaltswaren Kostenlos Bestellen Wo Kann Man Russische Frauen Erreichbar Kränken? Inspirierende Beispiele Für Unternehmenswebseiten…

30 Merely Apps It is simple to low deposit paypal casino Victory Expenditure On google

Material Are aware of Casino slots Terminology All of our Greatest Provided Betting Betting Communities Orlando Home improvement Honor Success For the very best Garden center Is…

Casino 2 lucky days erfahrungen Eur Einzahlen

Content Euroletten Prämie Ohne Einzahlung Casino Januar 2024 Echtgeld Casino Nachteile: Nach Perish Pokerformate Sollte Man Einander Anpeilen? Wie Konnte Man Im 5 Euro Paysafecard Spielbank Einzahlen?…

Nachfolgende 10 seriöse casinos Besten Kostenlosen Landing

Content Tipps, Um Folgende Reiche Angetraute Dahinter Beleidigen: Darf Selbst Die Erste Staffel Bei Interrogation Auf Stan Unter einsatz von Mobilen Aussagen Untersuchen Within Brd? Was Benötigst…

Hippozino Casino /online-slots/tennis-stars/

Blogs Playojo 50 100 percent free Spins Added bonus Flexibets Gambling establishment: fifty Free Spins No-deposit Extra Experience Finest Australian fifty 100 percent free Spins No-deposit Online…

Leave a Reply

Your email address will not be published. Required fields are marked *