NFTs ๐Ÿ–ผ๏ธโ›“๏ธ

Non-Fungible Tokens Explained

1. What is an NFT?

An NFT is a unique digital asset stored on a blockchain that proves ownership of an item like art, music, or in-game items.

2. Fungible vs Non-Fungible

Fungible โ†’ Bitcoin, money (replaceable)
Non-Fungible โ†’ NFTs (unique, not replaceable)

3. How NFTs Work

Create NFT โ†’ Mint on blockchain โ†’ Assign ownership โ†’ Store metadata

4. NFT Metadata

Name: Digital Art
Image: stored on IPFS
Owner: wallet address
Token ID: unique number

5. NFT Standards

ERC-721 โ†’ Unique NFTs
ERC-1155 โ†’ Batch NFTs (gaming items)

6. Use Cases

7. Minting Process

1. Create digital asset
2. Upload metadata (IPFS)
3. Mint smart contract
4. NFT gets token ID
5. Ownership assigned

8. NFT Marketplaces

OpenSea ๐ŸŒŠ
Rarible
Magic Eden