Crypto domain

With all the hype and headlines around NFT art, we start to hear more and more about NFT domain. Here we will try to help you better understand what they are and hopefully not miss on what we think is the next hot thing in the world of crypto domain.

NFT – Non-Fungible Token is a unique file on a blockchain, most likely on the Ethereum network but some other alternatives are emerging. This file contains unique identification and some other data like name, ownership, descriptions, attributes, and even smart contracts. The Non-Fungible part of the name stands for the fact that that token is unique and not interchangeable with other tokens which is the opposite of regular cryptocurrency, for example, anyone Ethereum is the same as any other Ethereum and cannot be differentiated from one another. All those properties allow NFT to represent digital or even real-world items and to keep track of their ownership. This in terms gives us the ability to tokenize ownership which we can later sell or even auction off.