NFTs, or Non-Fungible Tokens, are unique digital assets that represent ownership or proof of authenticity of a specific item or piece of content, typically using blockchain technology. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, NFTs are distinct and cannot be exchanged for one another on a like-for-like basis due to their individuality.
NFTs can be associated with a variety of digital items, including art, music, videos, virtual goods, and in-game items, as well as certain physical assets through tokenization. The ownership and transaction history of NFTs are securely recorded on a blockchain, providing transparency and security. This allows creators to sell their works directly to consumers and often includes mechanisms for royalties on secondary sales, enabling artists to earn from their creations over time.
The rise of NFTs has sparked significant interest in digital collectibles and the new economy they represent, leading to both excitement and debate about their implications for ownership, copyright, and value in the digital age.
Mercari NFT launches on January 28, providing a user-friendly platform for trading NFTs. Users can purchase NFTs with existing Mercari earnings, eliminating the need for crypto wallets. The marketplace features…