What is NFT, why is it being discussed so much?
What is NFT, why is it being discussed so much?
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NFT i.e. Non-Fungible Tokens is also a digital asset. It is based on blockchain technology. With the help of which the ownership of photos, GIFs, video clips, paintings and other digital properties is also decided. After which it is bought and sold. The purchase and sale of NFT are going to take place in digital form.

In simple words, getting a digital property NFT means taking ownership of it. If you buy an NFT  you are also being given a token. This token would have been proof that you are the real owner of that digital asset. That is, you are selling that digital asset according to your own.

Understand the difference between NFT's and general buy-sell: According to reports, fungible items can be converted from items of equal value. For example, one 10 rupee note is going to be replaced with another 10 rupee note. Cryptocurrencies are also seen to be fading. But that's not the case with NFT, which is making it different. Like cryptocurrency, special platforms for buying and selling NFT are also being reported.

The sale of an NFT does not mean that the item for which the token is located has also been shipped. For example, the NFT of many famous paintings has also been sold but the buyer is not getting the painting. Here the price is for the certificate of ownership of the NFT more than the commodity. This certificate remains in a digital wallet.  

Many personalities in India have launched the NFT collection: Graphic designers, digital artists, people from the digital gaming industry are selling their properties on NFT. Along with this many celebrities have also introduced their NFT collection. Indian personalities include many people like Amitabh Bachchan, Sunny Leone, cricketer Dinesh Karthik, who have knocked on the world of NFT.

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