Non-Fungible Token NFT: What It Means and How It Works
They can be used to represent both tangible and intangible items. So far, little attention has been paid to the viewership utility of digital NFT art pieces. Depending on how the digital art is stored, fragmented ownership may preclude people from viewing the whole piece of art. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners. This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it’s in demand. You have more of an opportunity to own and profit from items you care about. There are DeFi applications that let you borrow money by using collateral. For example you collateralise 10 ETH so you can borrow 5000 DAI . This guarantees that the lender gets paid back – if the borrower doesn't pay back the DAI, the collateral is sent to the lender. This also means that if a game is n