NFT or non fungible token is a digital token that works on the principle of blockchain. NFT has been in a lot of discussion for the last few days because of the digital art being sold for crores of rupees. Yes, digital for some time Art has been sold by the people at the price they asked for, this has been the reason that digital art has increased its popularity a lot through digital tokens.
What Is NFT or Non Fungible Token?
Non fungible token means which is difficult to expand. Let’s understand this through bitcoin. As bitcoin works on the principle of blockchain and one person can transfer bitcoin to another person, then in that case the owner of bitcoin receives it, it is called fungible. Conversely, if any digital file that anyone can buy and a token is placed on it, which identifies the identity of its main source or owner, it is called non fungible. Meaning that no matter how many times that digital item is sold or bought, but its owner is the same and a token is used to show it, it is called non fungible token.
It is also known as digital ownership. This token has been used for some time in crypto art online gaming etc. Cryptopunks first non fungible token was created in June 2017.
Where NFT is used?
Suppose you made a photograph or made any video, document, etc., you can upload it to the blockchain and get a token. In blockchain, you can register gaming, any art, music, document etc. As you upload any file, a unique token ID is generated for you, with the help of that id, any person can verify it. Is that the creator of this art or its owner.
Nft is used in Ethereume ERC-721 erc is a standard ERC-1155 is its initial standard under which any digital art can be verified for online token.
Famous arts of NFT
Kings of Leon is the first album which was included in digital art, along with it crypto kicks sneakers are also very much discussed these days and digital art of crypto kitty game named crypto kitty is also very famous. If you also want to know how to register Digital Art then read further.
How to register for NFT?
First of all you have to create a digital art or any digital product that you can use or as if you have made a photo and edited it in a better way, then you can visit any website related to blockchain like opensea.io On this website you have to create an account which is absolutely free.
As you verify your account, after that you can buy or sell any digital art, you will be given the option of a project.
In that account you can upload any digital art created by you, as soon as you upload that art you are given a token id from opensea, which shows the ownership of that art, as soon as your art goes live, any person can buy it. In return you will be given a fixed price, then this person can also sells your art to another person, if he do that then you are given some percentage in return because the ownership of that art is yours.
Let’s us tell you something, imagine you are in any area, you have to buy some land, when you buy it, then you are given its documents i.e. necessary documents which can confirm that you are the owner of that land at present, just like that anyone can use any of your files in Digital World, although many provisions have been made for this to protect your digital files, but if someone uses it without you knowing, then it is difficult to get credit, so that’s why Digital token system was introduced, so that your digital art can be identified.
Other Information related to NFT
Non fungible token is a digital art security system in which it can be verified by anyone on the blockchain. In this, like the rest of the web, no one can use your data without your permission, the trend of non fungible tokens is going to increase a lot in the coming years and everyone will want to do it because everyone sees the security related to their things.
