What Is An NFT, And What Does Fungable Mean?

So. NFT. You’ve heard it thrown around, people keep mentioning it to you. These people are mostly dudes in their late 20’s early 30’s who also bloody love Joe Rogan.

BUT

NFTs aren’t just a conversation piece for people who love MMA and bow hunting. It can be a great way to support your favourite digital artists.

Digital artists have a hard go making money. In the age of the internet, with such an abundance and ease of access, traditional methods of selling art don’t really work for people in the online space. Why buy a piece of digital art to hang on your wall, when you can print it out for free?

NFTs offer a way for digital artists to sell their art, it’s a way to publicly show ownership over a piece of digital content, and opens the door to a brand new economic avenue online.

So what is an NFT?

NFT stands for Non Fungable Token, fungible meaning not all tokens are worth the same amount, and they can’t be broken down into smaller pieces. An NFT is a digital token that exists online, publicly for anyone to see. It shows ownership over a piece of digital content or art.

For a more in depth analysis of NFTs check out Owen and Charlie’s interview with NFT expert Cameron Horne during the breakfast show.

Cryptocurrency and NFT expert Cameron Horne explains NFTs

Be sure to follow Charlie & Owen’s journey to creating their own NEXT themed NFT this week on the breakfast show 8am-10am

Be the first to comment

Leave a Reply

Your email address will not be published.


*