NFT

Non Fungible Token

Non-fungible token. The acronym NFT is a special type of encrypted token, it represents something unique. Therefore, they are irreplaceable. This contrasts somewhat with cryptocurrencies such as bitcoin, etherium and others. The 4 main characteristics of NFTs are UNIQUE, INDIVISIBLE, TRANSFERABLE and THE ABILITY TO DEMONSTRATE THEIR TRUTH. These have been highly criticized for their way of high energy costs expended, also the carbon footprint associated with validating blockchain transactions, and their frequent use in virtual frauds. Other criticisms cited the true utility of establishing proof of ownership on the blockchain. A market that is sometimes illegal and unregulated.

By Urimax