🌟 WTF are NFTs?
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The ultimate thread (in simple English) to take you from zero to hero.
Get some coffee and come with me on this journey 👇
NFT stands for "Non-Fungible Token".
But that doesn't help, does it?
Let's take one step at a time. What is a token?
A token is a thing that represents anything well-defined.
- Currency of an ecosystem.
- Flag of a country.
- Lease of your car/home.
- Amazon credits.
Anything well-defined.
In the blockchain world, it usually defines a cryptocurrency.
Which, like any other currency, is fungible. Fungible, eh, what?
One dollar in my pocket is exactly the same as the one dollar in your pocket.
Your dollar bill could be newer or older than mine, but when we'll go in the market to buy something, they'll both be treated equally.
👉 Fungible = interchangeable.
Unless they are not.