What is NFT?

What is an NFT?

An NFT (Non-fungible token) is a digital asset that represents real-world objects like art, music, and in-game items. “Non-fungible” means that it’s unique and can’t be replaced with something else. For example, a one-of-a-kind trading card is non-fungible. If you traded it for a different card, you’d have something completely different.

NFTs have become very popular over the past few years. The market for NFTs surged to new highs in 2021 with $2.5 billion in sales. Jack Dorsey sold his first tweet as an NFT for over $2.9 million. And Beeple sold his NFT for $69 million!

Enter Alchemist Republic. Blue Baikal’s latest NFT+DeFi platform, Alchemist Republic lets users easily acquire NFTs by playing video games, and these NFTs can be staked to generate a passive income!