Cover photo

NFT

What is NFT?

Before the technical examination of the concept of NFT, we want to examine the simplified form of its concepts. Suppose you have created a work using photomontage in Photoshop and you want to sell it. Anyone can have a copy of your work on their computer, and by downloading that work, no ownership rights will be paid to you. In another example, suppose you have painted an oil painting and want to sell it. In the first example, the photograph and in the second example, the painting, you can convert both of them into an NFT, and with this conversion, even with the destruction of the physical product - here the painting - the work itself is not lost in the form of an NFT. Its ownership is retained by the original owner of the NFT.

we want to explain it in a simpler way, it should be said that if the painting is converted into a photo and that photo is sold in the form of an NFT, this photo will have a unique ID that even its copies will not be equal to the original work. In this way, even a photo in JPEG format can be converted into an NFT and sold. In fact, NFTs are digital assets that can be collected like works of art. This digital asset maintains its value as a form of cryptocurrency. In fact, just as a hand-woven carpet or a painting retains its value over time and is considered a form of investment, the same applies to NFTs, which we will explain below.
The word NFT itself means "Non-Fungible Token" (Non-Fungible Token | NFT), and in fact, it is a digital token and a type of cryptocurrency like Bitcoin and Ethereum. But unlike a standard coin on the Bitcoin blockchain, an NFT is unique and cannot be exchanged.
we want to explain it in a simpler way, it should be said that if the painting is converted into a photo and that photo is sold in the form of an NFT, this photo will have a unique ID that even its copies will not be equal to the original work. In this way, even a photo in JPEG format can be converted into an NFT and sold. In fact, NFTs are digital assets that can be collected like works of art. This digital asset maintains its value as a form of cryptocurrency. In fact, just as a hand-woven carpet or a painting retains its value over time and is considered a form of investment, the same applies to NFTs, which we will explain below. The word NFT itself means "Non-Fungible Token" (Non-Fungible Token | NFT), and in fact, it is a digital token and a type of cryptocurrency like Bitcoin and Ethereum. But unlike a standard coin on the Bitcoin blockchain, an NFT is unique and cannot be exchanged.