What is NFT's

NFT's ... NFT's and NFT's everywhere in social media one of the most popular topic for today, so what is NFT ....??

NFT means "Non - Fungible Token" or we can say that "Non - Replaceable Token" so when can divide into two key terms:

Non - Fungible or Non - Replaceable ---- It means only one type of copy in the world that itself unique, and non - replaceable.
Token -- This is called a centralized way of banking and secondly, money as such is unlimited. The money that we have is actually just a piece of paper. Government can print it as many times as they want, and they have done, but the truth is that the value of your money can reduce at any point in time because a lot more money has been printed or just as it happened during demonetization the note or the currency itself is disregarded. It is digital currency that will be universal truth.

Example :- I have one book, book has my highlights, my notes and that is why there is only one of this kind. If I want to sell this book, and you would want to buy this book, because that is the cost of the book, let's say I would sell it for Rs 1000, If you want to own this, there has to be a way to prove that you own this. Now, this is a physical book, but what if it was an image ? What if it was a movie clip ? What if it was a poster ? What if it was a song, then how do you prove the ownership of that one unique piece ? It is by creating an NFT. That is how NFT work. They are a legible way of transferring the ownership of digital items, even physical items, and in such way that your ownership will always be on the record, it would be proven, and it can never be edited or deleted.

Now when you present this idea, you are like 'What is this rubbish? It is just an image. I can easily download it from the internet. I have always been doing it for my homework, for my work. I don't know who is the owner, and how does it even matter?' You are right, but you are also wrong. Let me tell you why? There is an original and unique item, let's say an original poster of "Money Heist", and now its digital form is available, and the director, or the film crew, or whoever, they are the owners of that poster right now, and they want to sell it. When you but, that it is driving on the most fundamental human psychology element of scarcity. Whenever anything is scarce, then we wish to have it even more. It is a simple way to prove to the world that, you have something which even if you replicate n number of times, you would never be the rightful owner of it. In fact, I would even say that, the more that thing will be replicated in a non-ownership format, the value of that true unique item will increase even more.