What is an NFT & how does it work?

An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to verify the NFT's authenticity and who owns it. So unlike most digital items which can be endlessly reproduced, each NFT has a unique digital signature, meaning it is one of a kind.

Could Drake make a 'fortune' if he would release his own NFT?

Drake could make a FORTUNE if he would consider releasing his own series of NFT’s, says fellow rapper Tory Lanez. The rapper recently appeared on a ‘The Nelk Boys’ podcast to discuss his decision to jump into the “Non-Fungible Token” business — joining other huge celebrities like Snoop Dogg.

What is the difference between NFT and a token?

NFT is an acronym for non-fungible token. Although these three letters changed the concept of digital ownership for many, they continue to cause confusion and frustration for others. In short, non-fungible means distinct and unduplicatable, while a token is an item stored on a blockchain. What are NFTs?

How secure are NFTS?

NFTs are secured and maintained much like prominent cryptocurrencies such as Bitcoin, Polkadot and Algorand. A complete record of an NFT’s historical transactions and sequence of owners is copied and shared across participating nodes. Each node contributes to ensuring the security and accurate record-keeping of that NFT.