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NFT (Non-Fungible Token)


Nigel1993

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A non-fungible token is a type of cryptographic token that represents a unique item. These items may be digital or physical and represent things like sneakers, art, a plane ticket, university degree, commercial real estate, or in-game items for an online game. NFTs enable owners of a unique item to prove their ownership and the authenticity of an item. NFTs enable businesses or individuals buying and selling items in a marketplace the freedom to trust that the item they'll receive is truly authentic since the NFTs unique ID will match up with either the original issuer of the item or the service which performs authenticity checks.

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On 11/1/2021 at 1:55 AM, Nigel1993 said:

A non-fungible token is a type of cryptographic token that represents a unique item. These items may be digital or physical and represent things like sneakers, art, a plane ticket, university degree, commercial real estate, or in-game items for an online game. NFTs enable owners of a unique item to prove their ownership and the authenticity of an item. NFTs enable businesses or individuals buying and selling items in a marketplace the freedom to trust that the item they'll receive is truly authentic since the NFTs unique ID will match up with either the original issuer of the item or the service which performs authenticity checks.

When we received the NFT that represents for eg a physical item like a sneaker, does the sneaker still at the ex owner's place? 

 

How does it different from selling the sneaker at carousell for eg? Does it mean that instead of putting a picture of the sneaker on carousell, now seller can put a NFT for the sneaker at carousell? I a bit confused.

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On 11/12/2021 at 6:34 PM, mantin30 said:

When we received the NFT that represents for eg a physical item like a sneaker, does the sneaker still at the ex owner's place? 

 

How does it different from selling the sneaker at carousell for eg? Does it mean that instead of putting a picture of the sneaker on carousell, now seller can put a NFT for the sneaker at carousell? I a bit confused.

In this case the NFT acts as your proof of ownership of the physical item. You can store the item anywhere you like. And of course, since you own the item itself, you can make derivatives of the item and sell them as physical items or digital items by issuing NFTs that are linked to your original NFT. So those derivatives can be traced and be proven are issued by the original owner.

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On 2/27/2022 at 10:02 PM, nerrad said:

Are there other local nft artists here? Thinking of discussing maybe in a telegram group? Just minted some and wish to discuss how to do more publicity about them. 

I don't think there are many NFT artists who are gay or interested in NFT.

 

You are better off asking your questions  in Facebook groups. Will share if you are keen.

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