What is an NFT?

Non-fungible token

NFT stands for non-fungible token; but what is fungible? The word comes from economics, meaning if something is interchanged the value for each one will remain the same. An example is money, if a peer interchange one euro to an other peer each one will have the same value in their account. A non-fungible token is the opposite, and if is interchanged the value of each account will not be the same. This kind of verification was really hard to achieve due to the centralization of data and how can things could be faked; but blockchain decentralized all information and transactions making possible to track and verified the originality of each piece. To make the NFT the protocols ERC-721, ERC-1155, ERC-20 are used. NFT’s are used mostly by digital artists creating worlds and assets in the metaverse. The marketplace where NFT’s assets are transacted is opensea.io but like this are many others.