What Is NFT?
To understand NFT's we will first break down the term NFT.NFT means Non-Fungible Token. The word Fungible means a thing which has no other copies and no other versions. For example, I wear jordans so there are many versions of that Jordan, I am saying that NIKE doesn't make only 1 version of that particular shoe pair, It makes like 1 lac or 10 lac depending on the manufacturing company, so these jordans are fungible, they have other copies, other versions.
Let's talk about non-fungible, you all have seen the famous painting of Mona Lisa. That painting is only one painting around the world, it has no other versions, no other copies, so we can say that this Mona Lisa's painting is Non-Fungible.
Let's talk about non-fungible, you all have seen the famous painting of Mona Lisa. That painting is only one painting around the world, it has no other versions, no other copies, so we can say that this Mona Lisa's painting is Non-Fungible.
[source](https://pixabay.com/vectors/nft-non-fungible-token-6773494/)
Understanding Non Fungible Tokens:
Now the next word in this term is token, token basically is a thing that can be transferred. I am teaching you guys about this in very easy words, it may seem like this explanation doesn't match the technical true crypto terminologies. But for the sake of simplicity, I am using these words. I am just trying to make it very very simple for you guys. A token is anything that is transferable, it can be a coupon, it can be a discount card, it could be an artwork, it could be basically anything.
So Non-Fungible Token(NFT) means that token/service/product/digital asset that exists only one, which has no other versions in existence.
So Non-Fungible Token(NFT) means that token/service/product/digital asset that exists only one, which has no other versions in existence.
[source](https://www.financemagnates.com/cryptocurrency/nfts-a-whole-new-world-awaits/)
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Blockchain
Blockchain isn't bitcoin, blockchain isn't a currency itself, blockchain is just a kind of safe ledger, so you know that the big table everyone has who records blockchain transactions is just one way to put them in some pretty fun snippets organize, so every time I pay for something with Bitcoin that the transaction is logged as a block. Each block contains transaction data such as z was recorded and the pivot on which this system is based is that the hash of that block changes if something changes in a block. You can see where it is going as each block also contains the data of the previous block, if the hash of the block changes here the next block no longer has a corresponding hash, and therefore every block that follows the next is no longer valid.
PFP Projects:
Talking about NFTS there are many types of NFTS but nowadays there is a term known as PFP projects that are becoming famous day by day. let me explain this to you by breaking it down. When you start to get into NFTS, there are two possibilities. One possibility is that you as an artist make your own NFT, You make one of one version, I mean that you make only one piece of that art. So you launch that art as an NFT, now the person who buys this piece of art from me will be the new owner of this, which is why this is an NFT, But this is one on one if this piece of art had 10 or 12 more version of it then that would be counted in generative art collections or generative art series, that's how they are identified.
[source](ime.com/6093982/nft-art-teens-money/)U
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