Ever since nonfungible tokens (NFTs) became a part of the cryptocurrency space, their proliferation into mainstream consciousness has driven their value and utility across several industries.
In the Video They Also discusses the complexities of NFTs, emphasising the critical role of the underlying blockchain technology in proving ownership of digitally scarce assets.
“NFTs provide unique, verifiable and immutable proof of ownership of digital goods. True digital ownership of assets through NFTs is a revolutionary idea that will transform how we interact with the internet.”
It emphasises the importance of NFT technology in handing digital asset ownership to users as Web3 functionality spreads across the Internet.
NFTs come in many different forms, from the best NBA highlights to multi-million dollar pieces of art created by some of the world’s greatest artists. In addition to being used for entertainment, the technology is being used to address real-world problems like ticketing.
Watch the complete video on nfts exaplained by cointelegraph
