NFT is short for Non-Fungible Token. It's a kind of digital certificate that uses blockchain technology. It refers to digital assets given a certain value, such as works of art, reall estate, or digital content. Each NFT has its own value, so they are not mutually interchangeable. Another characteristic trait is that they can't be tampered with. That's why NFTs are being widely implemented in fields where rarity is important, such as digital art, game characters, and in-game items.
With NFTs, information such as the current owner of a digital file and past transactions is stores on a blockchain. This makes it possible to track all transaction, and impossible to replicate. It's becoming an important way to ensure ownership and rarity in online spaces where media can easily be reproduced.
- Ha donated several precious works of art. / They say it's a work of art, but I don't understand it.
- We use security software so the data can't be tampered with. / Some people worried that the result had been tampered with.
- People sometimes pay real money for in-game items. / In-game items are now valuable in real life.
1: Have you heard of NFTs?
2: Yes, they seem to be brought up a lot lately.
1: That's right. They're a hot topic these days along with virtual currency.
2: I've been keepinng an eye on them.
1: It looks like these digital assets will become more prevalent in the future.
2: Yes. I'll have to study up on them.