Down the NFT Rabbit Hole With Wondermundo
NFTs (Non-Fungible Tokens) are not cryptocurrencies, but NFTs are an innovation brought to us by the same technology powering cryptocurrencies, blockchain.
Bitcoin was the first blockchain, then Ethereum made NFTs possible. Now there are dozens if not hundreds of blockchains, including Bitcoin, providing support for NFTs. Some notable ones include Solana, Tezos, Chiliz, Theta, Harmony and Kusama.
Tens of thousands of traditional corporations, influencers, entrepreneurs and artists have entered the space so far in 2021.
Don’t get what it’s all about? Here’s a quick intro:
Definition
Non-fungible: adjective. Not fungible. Meaning not capable of being replaced by another identical item easily; not mutually interchangeable; unique.
This technology embraces many fields: digital art, collectibles, gaming, certifications and personal licenses, IDs, domain names, music, fashion, finance and insurance.
For a full explainer on NFTs, read this.
As of this writing, by far the dominant use of this technology lies in the field of digital art and collectibles, spearheading adoption of the technology of NFTs.
