In text messaging and in online chat, NFT is used with the meaning "No Further Text" as a way of signing off a message. Information on NFT trading can be found at. The work is a mosaic of images that the artist made every day for 5,000 days, up to January 2021. The digital work of art, called "Everydays: The First 5000 Days," by Mike Winkelmann (also known as "Beeple") sold for over US$69.3 million. NFTs came to mainstream attention in March 2021, when Christie's became the first major auction house to sell a fully digital, NFT-based artwork. NFT stands for non-fungible token, which simply means that its a one-of-a-kind token. It records who owns something, but is not itself the same thing as that item. In addition, artists and creators can sell their work with conditional contracts that allow them to profit from future increases in value on resale. An NFT is a cryptographic record of ownership for a unique item that is encoded into a blockchain. For example, whilst anyone can copy an image or music file, NFTs prove ownership of the original piece of work and can therefore be traded for a much higher price. Truly, the sky, and the imagination, is the limit. It can be a collage of a photograph and a haiku, like the creation of Sacha Dean Bïyan and Dr Shunkichi Baba. An NFT doesn’t have to be visual art it can be an audio clip, a piece of poetry, or clothing. NFTs allow content creators to actually own the rights to their digital creations. That means a photograph, a digital painting, or a video. Because they are stored on blockchain, NFTs are unquestionably authentic. When purchasing an NFT, you acquire both the ownership record of an item, as well as access to that item. Non-fungible tokens, or NFTs, are pieces of digital content linked to the blockchain, the digital database underpinning cryptocurrencies such as bitcoin and ethereum. A small number of NFTs are actual physical objects. Whilst most NFTs are digital items, they may be be traded as a tangible items, such as jpeg images or PDF files. It records who owns something, but is not itself the same. If you buy an NFT, no one can take it away unless you decide to sell. And because it’s non-fungible (which basically means it can’t be replaced) and secured by blockchain, there’s no way to duplicate it. NFTs are unique, so they are "non-fungible." They can represent items that cannot be replicated, such as original works of digital art, original songs, unique images, trading cards, etc. An NFT is a cryptographic record of ownership for a unique item that is encoded into a blockchain. Similar to how buying a limited-edition print doesnt necessarily grant you exclusive rights to the image. The NFT is actually the digital certificate associated with the asset - proving who owns it. Most bitcoin is fungible, which means that one coin is essentially indistinguishable from another and is equivalent in value. NFT is used with the meaning Non-Fungible Token to refer to a unique entry on a blockchain (the same decentralized digital ledger technology that underlies cryptocurrencies like bitcoin). The abbreviation NFT means "Non-Fungible Token" and "No Further Text." Here is more information about each of these definitions of NFT, together with examples of use.
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