Collecting Non-Fungible Tokens Non-fungible tokens (NFT) are rare digital coins that serve as a copyright for an original work. As these coins are difficult to duplicate, they also provide an excellent way to protect against identity theft. Using NFTs as collectibles, digital artists can use them to create unique copies of their artworks. In addition to helping prevent copyright theft, NFTs also help to distinguish counterfeits from the originals. While the technology is still in its early stages, NFTs are already being used in merchandise. Non-fungible token A non-fungible token (NFT) is a unique digital unit of data stored in a blockchain. It demonstrates ownership over a digital asset, such as bitcoins, or a physical asset, such as a piece of artwork or a land parcel. By contrast, a fungible token, or BTC, can be traded for another one and therefore, have the same value when exchanged. This makes NFTs unique in their own right. The technology behind non-fungible tokens has already been used to create the Bored Ape Yacht Club, which is now an exclusive club for the game’s players. The company also plans to expand its brand into other forms of entertainment, such as video games. One of the most famous examples of an NFT is Axie Infinity, which in Q3 2021 became the most valuable NFT collection in history, with trading volumes exceeding $2.5 billion. Common NFTs What are Common NFTs? NFTs are digital tokens that can be used on various blockchains. Unlike cryptocurrencies, which are traded in a single marketplace, […]