Frequently Asked Questions About NFTs If you’re looking for a great investment opportunity, consider purchasing a NBA NFT. NFTs are digital trading cards that people buy based on their rarity. While you won’t own exclusive rights to the video clips on the NFT, you will own the bragging rights to own a virtual trading card. This means that you can sell your virtual trading card for a high price if someone else is willing to pay top dollar for it. Non-fungible tokens Non-fungible tokens represent ownership of real-world assets. They use blockchain technology, like cryptocurrencies, but they are not currencies. This feature makes them highly speculative assets, but it also allows for the cryptographical proof of ownership of certain digital goods. Initially, municipalities have experimented with these assets. Paper records can easily be lost or misplaced and are often the only proof of ownership. In addition, non-fungible tokens have the added benefit of being a convenient means of payment. A non-fungible asset cannot be replaced by an identical one, or be exchanged for it. For example, a plane ticket is a non-fungible asset, since the information contained on it is specific to that plane flight and city. If someone were to trade your ticket, they would probably get a different flight, or even be denied boarding the plane. Hence, you cannot trade it for an identical one, or use it for the same purpose. Non-fungible property Fungibility refers to the property of an asset or unit of value that can […]