NFT Explained In 5 Minutes What Is NFT - Non Fungible Token NFT Crypto Explained Simplilearn

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19 Sep 2021

This video on What is NFT covers all the important concepts of NFTs like What are NFTs What are Non-Fungible Tokens how do NFTs work how are NFTs different from other cryptocurrencies working in the same Blockchain Technology how NFT became so popular and what future NFTs hold for the world's economic system Don't forget to take the quiz at 03 47 00 00 What are NFTs 01 39 How do NFTs work 02 09 How are NFTs different from other cryptocurrencies like Ethereum and Bitcoin 03 05 How did NFTs become so popular 04 05 Future of NFTs Enrol for Free Blockchain Course Get Your Completion Certificate a https 3A 2F 2Fwww simplilearn com a learn-blockchain-basics-skillup utm campaign NFTScribe utm medium Description utm source youtube Subscribe to our Channel to learn more about the top Technologies a https 3A 2F 2Fbit ly 2F2VT4WtH a Check out the Blockchain training videos https www youtube com watch v yubzJw0uiE4 list PLEiEAq2VkUUKmhU6SO2P73pTdMZnHOsDB NFT WhatIsNFT NFTExplained NFTCryptoExplained NFTCryptoForBeginners NonFungibleTokens WhatAreNonFungibleTokens NonFungibleTokensExplained NonFungibleTokensExplainedSimply NFTExplanation Simplilearn What is NFT - Non-Fungible Token NFTs turn your digital assets into one of a kind by creating a unique digital signature that defines the ownership of your assets and that can be bought and sold for real money cryptocurrency or any other asset like a non-fungible token aka NFT NFT basically creates a blockchain-based digital certificate for your digital collectables including games music art and many more This certificate gives your artwork a unique identity The Underlying technology and the programming language used by NFTs are the same as other cryptocurrencies ie Blockchain and the programming language Ethash or Scrypt On the other hand NFT is a unique token therefore if you try to trade it you may end up with something completely different in your hands Cryptopunks is a remarkable example of NFT it enables you to buy sell and store 10 000 collectables with the proof-of-ownership being stored on the Ethereum Blockchain NFT has proved itself to be a boon in the lives of many others - like Jack Dorsey the CEO and co-founder of Twitter with his very first and famous tweet just setting up my twitter and Vignesh Sundaresan famously known as Metakovan who bought 69 3 million dollars worth of NFT art on Beeple Owing to its increasing popularity people are now willing to pay hundreds of thousands of dollars for NFTs NFT has enhanced media exposure and special perks for aspiring artists on social media This popularity of NFT creates new opportunities for new art platforms motivating people to buy art from internet platforms and promoting copyright or originality of digital assets Many experts in the crypto industry say that around 40 of new crypto users will use NFTs as their entry point As a result of its growing popularity NFT could represent a more significant part of the digital economy in the future To know about cryptocurrency and Blockchain visit a https 3A 2F 2Fwww simplilearn com a blockchain-certification-training-course utm campaign NFTScribe utm medium Description utm source youtube About Simplilearn Blockchain Certification Training Simplilearn s Blockchain Certification Training has been designed for developers who want to decipher the global craze surrounding Blockchain Bitcoin and cryptocurrencies Why learn Blockchain Blockchain technology is the brainchild of Satoshi Nakamoto which enables digital information to be distributed A network of computing nodes makes up the Blockchain Durability robustness success rate transparency incorruptibility are some of the enticing characteristics of Blockchain Many new business applications will result in the usage of Blockchain such as Crowdfunding smart contracts supply chain auditing Internet of Things IoT etc Enroll for Free Blockchain Course Get Your Completion Certificate a https 3A 2F 2Fwww simplilearn com a learn-blockchain-basics-skillup utm campaign NFTScribe utm medium Description utm source youtube For more updates on courses and tips follow us on - Facebook a https 3A 2F 2Fwww facebook com 2FSimplilearn a - Twitter a https 3A 2F 2Ftwitter com 2Fsimplilearn a - LinkedIn a https 3A 2F 2Fwww linkedin com 2Fcompany 2Fsimplilearn 2F a - Website a https 3A 2F 2Fwww simplilearn com a - Instagram a https 3A 2F 2Fwww instagram com 2Fsimplilearn elearning a - Telegram Mobile a https 3A 2F 2Ft me 2Fsimplilearnupdates a - Telegram Desktop a https 3A 2F 2Fweb telegram org 2F 23 2Fim 3Fp 3D 40simplilearnupdates a Get the Simplilearn app a https 3A 2F 2Fsimpli app link 2FOlbFAhqMqgb a