NFT (Non Fungible Token) or in French, (Non-fungible token).
Non-fungible tokens, or NFTs, are pieces of blockchain-related digital content.
The NFT is considered a new investment instrument on the digital art market, en as a representation of a digital work. It is of interest to collectors, digital art fans, video games and investors.
The NFT is a non-fungible token
He represents a asset both physical and digital registered on a blockchain. he thisconfirm the authenticity of this asset and are non-interchangeability.
In that sense it is unique. NFTs are not interchangeable, no two are the same.
The NFT is considered a token that is non-functioning and unique.
The Monetary and Financial Code sets out its definition in Article L.552-2.
Establishment of LAW n°2019-486 of May 22, 2019 – art. 85
“For the purposes of this chapter, a token is any intangible good that, in digital form, represents one or more rights that can be issued, registered, stored or transferred by means of a shared electronic recording device that allows, directly or indirectly, the owner of the property. »
Fungible is said of a thing interchangeable against a thing of the same value, of the same nature, or of the same quantity.
NOTwe fungible is one thing which cannot be replaced by something of the same value, of the same nature, or of the same quantity.
An NFT has a cryptographic connection to the support of a unique, non-functioning and unique work. The programming code is unique on the blockchain.
NFT is a digital token that represents a single item, registered on a blockchain through which the owner can be identified, and legal representative for the holder.
Assets represented by NFTs ¶
- digital artwork
- physical artworks
- sporty moments
- Virtual Trading Cards
- Write short videos or music clips
- Entrance fees to a private showroom of a luxury brand,
- Being present in video games
For example, Twitter co-founder Jack Dorsey sold the very first tweet. The price of this NFT is $2.9 million.
When an NFT is traded, the underlying artwork is not traded, but it is the certificate of authenticity of the work to which the transaction relates.
In front of‘investor, this takes the form of receiving a digital file containing the certificate of authenticity of the underlying security.
Going to NFT: The Tokenization Process.
Tokenization is the process of replacing sensitive data with an equivalent element (Token).
It registers on a token an asset or a property title on a blockchain with the rights attached to it.
The asset represented by the token, also known as the underlying asset, can exist in both digital and physical form.
By doing this, the token has no meaning outside of the operating system.
Here, for an NFT, this is equivalent to the registration of a title deed or certificate of authenticity of a digital work on a non-fungible token issued on a blockchain.
The NFT represents the certificate of authenticity or ownership of a work on the blockchain, in the form of a cryptographic token.
The certificate of authenticity is integrated in the NFT, it allows the interested investor to verify its authenticity.
NFTs can be bought and sold like other types of assets, their value is determined by supply and demand.
Buyers are willing to pay based on scarcity and demand. There is no certainty about future income.
Buy or sell an NFT ¶
Choose the market and platform you want to buy on.
The opening of a digital wallet will be carried out to the Net . store
And keep in mind the cryptocurrency needed for the transaction. You need it to complete the sale. Most trades are done with Ethereum
Fees: Some places charge “gas” fees, which correspond to the energy needed to execute the transaction on the blockchain, conversion fees to Ethereum, sales and purchase fees.