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What Is an NFT Anyway, and Should You Care?

Federico García Lorca, artist killed by right-wing Spanish forces in 1936.


I’ll explain what an NFT is in the following section. First, it’s helpful to know what Blockchain is. A blockchain is an electronic way of securely recording transactions with transparency and built-in cross-checks. Because of the structure of a blockchain, it’s almost impossible to alter a previous record.


Blockchain is essential for NFTs because it creates the transparency necessary for two parties to trust each other and for the marketplace to trust the transaction information. Anyone can see the record of the transaction at any time. It is not transparent in the sense that the buyer’s identity on the chain is tied openly to a real person. JaneDoe994, an art collector, is likely a pseudonym; her real identity may or may not be known to the community or even the artist.


Where the information is stored is different on the blockchain, too. There is no central database owned by an intermediary like a bank. The blockchain creates a distributed database by replicating transaction information on distributed nodes.

What is an NFT?

You probably have some idea of what an NFT is, but I’ve seen people misusing the term so let’s do a refresher of the basics.

Non-fungible: Unique Value is Key

Non-fungible things are unique. If you divide them, they will lose value. Let’s take the example of a rare Porsche 911. 😎 (yes please!)

A chart to answer the question “What the hey is non-fungible?”

The T in NFT — What Is a Non-Fungible Token?

Now that you know what non-fungible means, what is a non-fungible token?

Get Rich Quick. Not. The Importance of Community

In spite of the hype, becoming a digital artist and selling NFTs is not a get-rich-quick scheme. Yes, there are some artists that got-rich, and it might have looked quick. But in every case, they had a close community following them.

Digital and Physical NFTs

People can use NFTs to buy, exchange or document information about any digital asset. Digital artwork is in the news right now as a hot market. Enthusiasts in sports and gaming are also using NFTs to purchase assets like video clips and rewards from video games.



Led by two female founders, The Impactoverse is a sustainability and impact evolution ecosystem. We help brands and impact initiatives use Web3 tools like NFTs to scale revenue, engagement and impact.

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Kala Philo

Hi! I’m a tech marketing writer, strategist and co-founder. I also write about personal growth via immersive travel. More info at