NFTs Explained in 60 Seconds | NFT Simply Explained #shorts

🔒Secure YOUR Crypto🛡️ 🔑NOT Your Keys🔐 ✔️NOT Your Crypto! ✅ My Favorite Crypto Hardware Wallets: ✘ Ledger Nano S: http://bit.ly/LedgerACOB ✘ Trezor One: http://bit.ly/TrezorACOB New #Shorts video. I will explain what is an NFT in 60 Seconds. This video is #NFT Simply Explained. What is a NFT? (Non #Fungible Token) What are NFTs? A non-fungible token (NFT) is a cryptocurrency token that is indivisible and unique. ... NFTs are useful for proving the scarcity and provenance of rare assets, both digital and real-world. Non-fungible tokens are mainly built on #Ethereum using the #ERC-721 token standard. Art was an early use case for blockchain. NFTs prove authenticity and ownership of digital art.The launch of CryptoPunks In June 2017 paved the way for "rare" art on the Ethereum Blockchain. DADA.art built from the CryptoPunks model and launched the first marketplace for rare digital art in Oct 2017. Later, popular blockchain games like CryptoKitties made use of non-fungible tokens on the Ethereum blockchain. NFTs are used to represent in-game assets, and are controlled by the user, instead of the game developer. This lets the assets be traded on third-party marketplaces without permission from the game developer. #CryptoKitty #CryptoKitties #NBAtopshot #CryptoPunk