# What are NFTs?

By [Web3withAshley](https://paragraph.com/@web3withashley) · 2022-04-02

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An NFT (non-fungible token) is a unique artifact stored on a blockchain.

While I won’t go into detail about what blockchain is in this post (since I talk about it [here](https://mirror.xyz/web3withashley.eth/mMcAZtYisg-d3il0gRVLGlALIbMGObte60cvvSAfVP8)) — what is important to know is that a blockchain is a public database of information that cannot be altered or deleted (unless >50% of participants in that blockchain agree to such a change).

Now back to NFTs, an NFT is just a certain type of information that is being stored on a blockchain. What is distinct about NFTs is that the information is ‘non fungible’ — each NFT has a unique identity attached to it. One NFT is never the same as another NFT, even if they visually appear to look the same.

\*\*Why are NFTs important? \*\*NFTs provide us with a utility that has never existed before: a way to store a digital asset indefinitely without the risk of alteration or removal. NFTs are pretty much immortal online goods. The possibilities of what you can do with them are endless, but here are two examples of how they might be used:

**Artwork**: one of today’s most popular NFT use cases is digital artwork. NFT art differs from ordinary electronic art for two main reasons: **verifiability and royalties.**

_Verifiability_: Because the artwork is stored on a blockchain, anyone can verify it’s authenticity and can view the trail of ownership up to the art’s creation. Sure someone can screenshot an NFT and claim to own it, but anyone with access to the internet would be able to figure out that they are not actually the owner of that NFT. Unlike other forms of art, NFTs cannot be forged. The importance of verifiability depends on how important it is to own an original artwork instead of a replica of it (with physical paintings, this is considered to be extremely important).

_Royalties_: In the process of uploading the artwork to a blockchain (a process known as “minting”) the creator has the option to set a royalty fee on future resales of the art. This allows artists to earn a portion of the profits from resales of their artwork, allowing them to profit from the future appreciation of their work. This is very relevant in the context of art where it can take several years until the value of the artwork is realized.

**Tickets**: Another example of a use case for NFTs is tickets. The main feature at play here is the verifiability of the tickets. Let’s take scalpers as an example: if tickets were NFTs, you would be able to verify the legitimacy of the tickets you were being sold and the scalper physically wouldn’t be able to duplicate the tickets and try to sell two copies of the same ticket to two different people.

Thanks for reading!

Please reach out to @web3withashley on twitter if you have any questions or suggestions of how this article can be improved.

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*Originally published on [Web3withAshley](https://paragraph.com/@web3withashley/what-are-nfts)*