PHolangomark
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A year has gone by since You do not have permission to view the full content of this post. Log in or register now. entered mainstream culture. Earlier this week, we brought you an article You do not have permission to view the full content of this post. Log in or register now.. For those who haven’t quite figured it out over the past 12 months, we’ve put together a refresher course in the basics.
What is an NFT?
An NFT, which stands for non-fungible token, is a unique unit of data employing technology that allows digital content—from videos to songs to images—to become logged and authenticated on cryptocurrency blockchains, primarily Ethereum.
How does it work?
Typically, creators (or, if you prefer, artists) will mint their work on an NFT marketplace, which includes platforms like OpenSea, SuperRare, Nifty Gateway, Foundation, and many others. Minting is the act of creating an NFT, which means creating a smart contract that will be stored on the blockchain. The smart contract contains a lot of important information: it lists the creator of the work and ensures that the creator, or other parties, receive royalties each time the NFT is sold.
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