A new trend in art – Non-Fungible Tokens
We have talked about blockchain in our previous blog, if you haven’t read it, you can go through it first ( Breaking Down Blockchain ) and come back here. Non-fungible tokens are any form of a digital asset which can be a painting, digital art, game, gif, or video. It can also be a document that can be stored digitally on the internet. These tokens or digital entities are managed and circulated through blockchain. As blockchain comes with a package of properties like the impossibility of hacking the network, transparency of transactions, data security, and validation, these features are being effectively used to implement the Non-fungible tokens framework. Non-fungible means anything which cannot be duplicated or interchangeable; token means a digital entity. The basic idea is to store the digital entity in the blockchain as a unique element that is owned by a unique person. These tokens are different from cryptocurrencies like bitcoin and ethereum. For instance, if you consider any