What are Non-Fungible Tokens?
All you need to know about NFTs and Digital Assets.
NFTs: The Basics
Answers to common questions about NFTs.
What are Non-Fungible Tokens?
A Non-Fungible Token (NFT) is not an asset itself. Instead, it represents ownership of an asset. It is like a stock certificate or a deed to a house. In other words, it can represent partial ownership, or total ownership.

An NFT is unique, and can therefore be owned by only one person. It exists on the blockchain, so is virtually impossible to fake or modify
Where do I get them?
NFTs are usually purchased from a marketplace. The largest marketplace is OpenSea, which sells a wide range of NFTs in multiple genres. There are also specialist marketplaces like NBA Top Shot, which cater to specific groups.

NFTs are also commonly sold (and used) in the metaverse. They are important in blockchain games such as Axie Infinity, or virtual universes such as Sandbox. Wherever you buy your NFTs, you will need to have a crypto wallet in order to store them.
What does non-fungible mean?
‘Non-fungible’ is another way of saying that something is unique. This is important because many cryptographic tokens are fungible (=interchangeable). All Bitcoins are the same, just like all US dollar bills are the same.

Correspondingly, just as all Picassos are unique, every CryptoPunk NFT is different and has its own verifiable digital identity.
Why are NFTs valuable?
NFTs are a secure way of proving ownership of an object, whether tangible or intangible. Their value comes from the object whose ownership they represent. Very often, as in the case of art or music, this value is subjective.

Because NFTs can be made (‘minted’) and distributed easily without the need for an intermediary like a record label or publishing company, creators can use NFTs to connect with and reward their fans. They can also earn royalties automatically whenever an NFT is sold.
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"I have been in the NFT space from the beginning. I dropped our first NFT a year ago, I've looked at every NFT marketplace out there and none was as intuitive or had as many features as Mozverse. "
Danny Cotton
- Chief Operating Officer @ Worldstar