Non-Fungible Tokens. In simple terms, fungible means replaceable. For example, if you go to a shop to buy a Kit-Kat, it doesn’t matter which Kit-Kat you get - since every Kit-Kat is the same. You can even trade this Kit-Kat for another Kit-Kat and you will have exactly the chocolate. So, it’s replaceable. And as evident as it is, on the contrary, non-fungible means non-replaceable. For example, the famous Mona Lisa painting is non-fungible. It’s unique and you can’t replace it since it’s one of a kind. You can take a photo of the painting or buy a print but there will only ever be the one original painting.
NFTs can be compared to the Mona Lisa painting but in a digital world. So, NFTs are digital assets that can be bought or sold online but they have no tangible form of their own. They are just tokens with proof of ownership of the digital arts.
I for one have been very reluctant to learn about blockchain and the market luckily I have seen how it simply affected the stock market, take BTCS for example. They are a blockchain technology focused company, which has announced that The Nasdaq Stock Market LLC has approved the listing of the Company’ common stock on The Nasdaq Capital Market (“Nasdaq”). The Company’s common stock which began trading on Nasdaq under trading symbol “BTCS” at the open of the market on Tuesday, September 14, 2021.