How do brands use them and what results do they get?

[asikurrahmanshuvo]

About NFT and Blockchain
As we already said, NFT is the acronym for Non-Fungible Token. In technology, the word Token can be defined as a digital representation of an asset. In turn, Non-Fungible means something cannot be replaced by something else .

An easy way to exemplify what a non-fungible good is is the art market: how many Van Gogh paintings are worth a Mona Lisa? There is no such relationship, as they are unique, distinct and irreplaceable works. On the other hand, you can exchange a 10 dollar bill for 2 5 dollar bills because they are fungible.

These unique, distinct and irreplaceable electronic macedonia phone number list codes are recorded by the blockchain system, which is the same technology used in cryptocurrencies such as Bitcoin . The blockchain system records transactions in an encrypted form and, in theory, the information included in the blockchain cannot be changed.

In this way, the unique file of the digital asset is connected to the unique certificate generated by the blockchain , guaranteeing the authenticity and ownership of that asset.

An NFT is a unique digital certificate, recorded on a blockchain, used to record ownership of an asset, such as a piece of art or collectible.

Any person or company can link their assets, whether digital or physical, to an NFT, they just have to find a company that provides the service and a fee is usually paid for the creation of these digital assets.

These assets are typically traded on marketplaces, such as OpenSea and Rarible , which act as shop windows where NFT owners can leave them exposed for purchase offers.

NFTs became popular due to multi-million dollar transactions for artworks such as Beeple's The First 5000 Days and celebrities who joined the movement as if they belonged to a club that has exclusive assets.