What is NFT?

An NFT is a type of digital asset that represents ownership or proof of authenticity of a unique item, stored on a blockchain. NFTs are generally in the form of artwork, music, photos or videos and can be bought and sold online. They have become more popular in recent years, with popularity on social media and the internet.

Think of it like a digital deed of ownership that proves you own something unique – whether it’s a digital painting, music file, collectible, or even a piece of virtual land.

Why Do People Buy NFTs?

• Digital Ownership: Just like owning a rare baseball card, but digital.
• Support for Creators: Fans buy to support artists or projects.
• Speculation/Investment: People buy hoping the value will increase.
• Flexing & Identity: NFTs are used as digital status symbols.