This means that the author’s details and authenticity of the art can be stored on the tamperproof and secure Blockchain.
![non fungible tokens list non fungible tokens list](https://cryptoglobe.s3.eu-west-2.amazonaws.com/2020/05/tokens-768x681.png)
However, through the use of Blockchain and NFT’s artists can upload their art to a website that adds these details to the Blockchain. Currently, an artist may publish their artwork on their website, social media or a blogging site, however, this doesn’t prove ownership, many of these platforms often don’t even offer a reliable date stamp. However, the use of the Blockchain and NFT’s can help solve this problem. Since the value of art is dependent on a range of factors including the authenticity, age and number of owners, it makes perfect sense to store it as an NFT on the Blockchain.Īrtists often have problems proving the authenticity of their work, especially with digital art. This enabled users to sell, buy and store 10,000 unique collectable characters with the proof of ownership being stored on the Ethereum Blockchain. The first example of Non-Fungible Tokens was through a project called CRYPTOPUNKS. In short, they represent something unique, something that isn’t mutually interchangeable. Once you own an NFT you have it for life (unless you lose your key).
![non fungible tokens list non fungible tokens list](https://s3-eu-central-1.amazonaws.com/wp-exscudo-blog/blog/wp-content/uploads/2020/05/14095916/what-are-non-fungible-tokens.png)
This is where None-Fungible Tokens come in (NFT).
![non fungible tokens list non fungible tokens list](https://www.castlecrypto.gg/wp-content/uploads/2019/03/archspire-collectible-token-473x1024.png)
There’s one thing that all these assets have in common though. Ever bought a website domain? Registered copyright? Even a Twitter handle can be seen as a Non Fungible Asset. Non-Fungible Assets (NFA) are nothing new they’ve existed for years. How on earth did Paris Hilton recently manage to sell a picture of a cat for over $17,000 worth of ETH? Welcome to the world of Non-Fungible Tokens (NFT) stored on the Blockchain.Īs a Blockchain Design agency we love to work with NFT projects, here’s a rundown of exactly what they are, and some great examples of projects already using them! What are Non-Fungible Assets?