38  Blockchain

NFT overview

There has been a lot of talk about NFTs recently. NFTs are now touted as a

digital answer to collectibles. In this section, we will unveil the reality of NFTs,

their use cases and some critical analysis of the technology and end-use cases.

What is an NFT?

NFT stands for non-fungible token. For instance, in economic terms, a fun-

gible asset is something that can be measured and readily interchanged like

money or an office building. Another example is to purchase a physical

painting in exchange for money. This painting will have value and can be

touched and felt as an asset.

Figure 1.21  dApp demo. Maker.