đŠâđĢIntro to NFTs
The building blocks of the new digital economy.
Last updated
The building blocks of the new digital economy.
Last updated
NFTs, or non-fungible tokens originated with Bitcoin-based colored coins around 2012-2013, but it wasn't until 2017, with the Ethereum blockchain, that they gained significant recognition.
Before NFTs, digital art and other digital things could be copied easily. NFTs changed the game by using blockchain technology to make digital items unique and truly owned.
People began exploring this technology, leading to the creation of some of today's most well-known collections, such as Punks, Azuki, Bored Apes, and more, with some fetching millions of dollars in secondary sales.
But still today, most people don't understand what NFTs are, and what they can be used for...
Simply put, an NFT is a digital certificate of ownership, that lives on the blockchain.
Like a special badge that helps prove who owns what in the digital world.
It stands for "non-fungible token," which means it's one of a kind and can't be replaced with something else. When you own an NFT, you officially own the original version of a digital or physical item.
NFTs typically include one or more multimedia files, along with NFT information and royalties. You can find more details about the structure of NFT metadata in Hedera NFTs.
NFTs can be used for many different purposes.
At Kabila, we're using NFTs to empower creators to reclaim ownership of their communities/audiences, which in turn will help them regain control over their monetization and social spaces.
We've called them: Brand NFTs.
