◼️NFT

What is NFT?

Non-Fungible Tokens, or NFTs, are unique digital assets that cannot be exchanged on a one-to-one basis due to their distinct characteristics and value. Unlike fungible tokens, such as cryptocurrencies like Bitcoin and Ethereum, NFTs are not interchangeable because each one has its unique attributes.

An NFT can represent various forms of digital or physical assets, including digital art, collectibles, virtual real estate, in-game items, and more. The value of each NFT is determined by the specific properties it holds, which make it unique and distinguishable from other tokens.

The blockchain technology behind NFTs ensures the secure ownership and transfer of these unique digital assets. NFTs can be bought, sold, or traded on various platforms, enabling creators and collectors to participate in a thriving digital economy based on their unique digital assets.

For example, in the Hidden Beyond metaverse, land or property NFTs have unique features such as land size, the number of floors, props inside the house, weapons loading capacity, and more. These characteristics contribute to the NFT's overall worth, making it distinct from other NFTs with different features.