What is an NFT?

What is an NFT?

It's a non-fungible token.

Well, that doesn’t make it any clearer.

Okay, sorry. “Non-fungible” means that it’s unique and can’t be replaced with something else. For instance, a bitcoin is fungible — trade one for another bitcoin, and you will have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you would trade it for a different card, you would have something completely different. You gave up a Squirtle, and got a Charizard back.

How do NFTs work?

At a very high level, most NFTs are part of a blockchain. Unlike other fungible tokens, NFTs contain more metadata which can be an image or attachment and attributes. They are more diverse in specifications compared to fungible tokens. The additional image, attributes or properties of an NFT provide more functionality to it: it may be used in a game, event or even as your Twitter profile picture ;).

What’s worth picking up at the NFT supermarket?

NFTs can really be anything digital (such as drawings, music, your brain downloaded and turned into an AI), but a lot of the current excitement is around using the tech to sell digital art. The value of an NFT is determined just by supply and demand. Ultimately, the value is in the art itself and the perks you will get when you own it. In the Dizzy Dinos project, NFT holders can take benefit of many perks like participating in a play-to-earn Dino Game! Discover more about this by joining our Discord server.

More than owning a digital asset.

Never was it so cool to own a digital asset. Dizzy Dinos' holders can take benefit of so much more than just a digital artwork.

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