Digital assets are in trend these days. Everybody wants to own them. However, only a few years ago, owning digital assets was extremely difficult due to the fact that, unlike physical assets, any digital assets can be very quickly copied and reproduced, due to which millions of duplicates of any given item can easily be made. To be purchased, an item must be something that is both distinctive and not widely available without spending money. Digital assets, on the other hand, are readily available since they can be copied, downloaded, and/or shared with anybody around the internet. As a result, in order to sell digital assets, it is critical that they can be distinct from one another. And an NFT assists us in accomplishing this goal.
A Non Fungible Token, often known as an NFT, is a token that symbolises anything that is distinct and cannot be substituted by anything else. The NFTs function in the similar way as cryptocurrency does. They are based on records that keep track of who owns what, and these records are maintained on a distributed ledger known as the blockchain. Because the ledger is monitored by hundreds of computers around the world, it is impossible to manipulate it. And that’s why NFTs can help us in purchasing and owning digital assets.
Blockchain technology is used to keep track of NFT records, which makes them one of a kind. For digital assets such as images, GIFs, and videos, we may generate NFTs by using a programme called NFTGenerator. Because the digital asset’s identity is now reflected by an NFT, it acquires the non-replaceable quality that it previously lacked. Later on, one can also purchase and sell the NFT as a certification of ownership of that specific digital asset.