NFT market stats, sales tracker, rankings & news
The future of NFT s lies in business applications -- as the true power of NFTs is providing authentication and facilitating the transfer of ownership. Thus, you can tokenize a bottle of wine, a Gucci bag, a property, or any physical or digital asset that is deemed unique. NFTs are also called non-fungible tokens, and they are blockchain-held tokens that represent a unique asset – whether physical or digital. The trading volume for non-fungible tokens hit $10.67 billion in Q3 2021, an increase of 700% from the previous quarter. You can send someone one Bitcoin and they can send one back, and you still have one Bitcoin. (Of course, the value of Bitcoin might change during the time of exchange.) You can also send or receive smaller amounts of one Bitcoin, measured in satoshis , since fungible tokens are divisible. It confirms the ownership and unique identity of the digital asset. A technology similar to Bitcoin and Ethereum is used to build NFTs. In fact, Ethereum is the widely acce