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WHAT IS AN NFT

NFT is the acronym for “Non-Fungible Token” (Token no Fungible in Spanish). A non-fungible asset is one whose value cannot be replicated. The clearest example is a work of art: you can produce a copy, but the original holds a unique value no replica can match. NFT work on exactly the same principle, applied to the concept of a token. Bitcoin is also a token, for instance, but it is fungible.

The simplest analogy here is gold. Bitcoin is like gold: one gold bar holds exactly the same value as any other. An NFT, by contrast, would be like a handcrafted gold piece made by a single artisan.

NFT carry real potential precisely because they run on Blockchain: each one has a unique identifier that cannot be replicated. That means you can always verify the origin of a NFT, avoiding fakes or anything that isn’t exactly what you were looking for.