The NFT world
The NFT world
août 17 2021
Back

What are NFTs?

NFTs, or Non-Fungible Tokens are tokens carrying unique characteristics, which can be a certification of an asset ownership or specific rights granted to its owner.

Created on a blockchain, NFTs enjoy its transparency, undiscriminating access and easy transfer between its addresses, marking a new era of ownership rights. The footprint of each NFT is unique and associated with a single address, which leaves no doubt that the person holding private keys to that address is the NFT’s owner.

What are NFTs used for?

NFTs are widely used for digital items: digital collectibles like CryptoPunks, digital art like Beeple’s paintings, gaming elements like Axies from Axie Infinity… They can also represent real-life assets, like a Picasso painting, a share in real estate etc.

Being smart contracts themselves, NFTs allow to program added conditions. For example, an NFT of a Stoner Cat allows to unlock the access to the eponymous animated movie.

The potential of NFTs is high, and new use cases come along as the crypto adoption progresses. Internet Computer used NFTs to stress-test its recently launched network, and an increasing number of companies use them to engage with their community. In the meantime, NFT sales volume is regularly hitting new highs, with over $2.8 Bn traded monthly in August’21.

Don’t miss out

We compile the most important NFT-related news in this section to help you follow the fast-evolving trends. We also dedicate a part of our weekly Newsletter to the NFTs, so make sure to subscribe to not miss out on the next big NFT thing.