NFTs

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When hearing the word NFT, we tend to think of odd pictures selling for large sums of money. We wonder why anyone would want to spend that kind of money on an NFT. Well, NFTs are not just limited to goofy pixelated pictures. Think of a concert ticket. It represents a spot that you own at the show. There are several other people with tickets, but none are for your spot. The tickets are not a form of currency but can be sold for an agreed-upon price. If someone tries to take a picture of your ticket, that picture may look like your ticket, but when going to the concert, the scanners are able to tell what is fake and what is real. The blockchain knows which copy of an NFT is real based on the underlying code it's written on. This is a young part of crypto and is still evolving. Below are some videos to help explain NFTs more in-depth and some use for them other than just a odd-looking picture.