NATIVΞ - Collectable Art NFT's | Rare Digital Assets

What is an NFT?

Non-Fungible Tokens Explained

NFT stands for non-fungible token, a special kind of digital token that represents something unique. Non-fungible tokens (NFTs) are unique, digital items with blockchain-managed ownership. Each token is an original, one of a kind NFT, as opposed to cryptocurrencies like Bitcoin that are fungible, with many copies in circulation.

Think of it like this.. One Bitcoin is equal to one Bitcoin, and it's equal to all other 21 million Bitcoins. You can own one Bitcoin, swap one Bitcoin for another, but it will always hold the same value as one other Bitcoin. This makes cryptocurrency a fungible token. Each individual token (or fraction of a token) is equivalent to the next. It's the same with regular money or cash.

Pounds, Dollars, and Euro's are all fungible assets.

Art is original

When art is created and represented as an NFT, that NFT cannot be duplicated once it has been written on to the Blockchain. This creates a one-off, original, rare, collectable item. These characteristics make NFT tokens perfect for verifying the ownership of unique digital items, like collectibles and digital art.

NFT's are like snowflakes, no two are the same.

If someone copied the artwork and tried to claim ownership, they would fail because the original owner will hold the NFT, proving the other is a fake, and the NFT backed artwork is the original.

NFT's can also be backed by physical goods

Once an NFT artwork or non-fungible token has been purchased using a cryptocurrency, mainly Ethereum, it can be linked to the item it represents in the physical world. This can include paintings, sculptures, land, properties, website domain names, and so much more. Think of the non-fungible token as a digital receipt. A receipt that can't be lost or destroyed, confirming the date and time the NFT was purchased, etched into the blockchain for ever, thus proving, you are the sole owner of the NFT and the goods it represents.