Non-Fungible Token (NFT’s)

Authors

  • Pranamya Taral Undergraduate student, Department of Computer Engineering, St. Vincent Pallotti College of Engineering & Technology, Nagpur

Keywords:

Cryptocurrency, Non-fungible tokens, Blockchain Metaverse, Latency Throughput

Abstract

Non-fungible tokens (NFT) became the first application of blockchain technology to achieve clear public prominence.The Non-Fungible Token (NFT) market is mushrooming in the recent couple of years. NFTs are tradable rights to digital assets (images, music, videos, virtual creations) where ownership is recorded in smart contracts on a blockchain.an be bound with virtual/digital properties as their unique identifications. With NFTs, all marked properties can be freely traded with customized values according to their ages, rarity, liquidity, etc. Like physical money, cryptocurrencies are fungible, meaning that they can be traded or exchanged, one for another. For example, one bitcoin is always equal in value to another bitcoin. Similarly, a single unit of ether is always equal to another unit. This fungibility characteristic makes cryptocurrencies suitable as a secure medium of transaction in the digital economy.

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Downloads

Published

18-04-2022

How to Cite

Pranamya Taral. (2022). Non-Fungible Token (NFT’s). International Journal for Research Publication and Seminar, 13(3), 75–78. Retrieved from https://jrps.shodhsagar.com/index.php/j/article/view/531

Issue

Vol. 13 No. 3 (2022): Volume 13 | Issue 3 | 2022 (NSCIT)

Section

Original Research Article

License

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