2021-05-31
NFT non-fungible token is the token that store in the blockchain. Each of the tokens is unique. Unlike cryptocurrency, each bitcoin represents the same amount of value. That allows each of the tokens to represent a digital asset. Bey of this nature of NFT, trading if digital assets became a perfect application of NFTs. The ownership is stored in blockchain forever, and this is not required a centralized registry and you can buy or sell it easily. Since blockchain being invented, there are many applications, but NFTs are the most valid application so far. However, one of the biggest problems of using NFT to represent ownership of the digital asset is whom to recognize this. If any governments do not recognize it, this will preventing people to use this as a way to represent ownership.