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Proof of Ownership. NFTs provide true and transparent digital ownership. These digital assets are immutable and inherently tradable. The ownership, collection and resale are facilitated.

The digital asset represented by the NFT can be copied, however the NFT itself is unique and cannot be copied. The proof of ownership exists on the blockchain it was minted on.

The Blockchain is literally a chain of blocks. When we say the words “block” and “chain” in this context, we are actually talking about digital information (the “block”) stored in a public database (the “chain”). “Blocks” on the blockchain are made up of digital pieces of information. Specifically, they have three parts:

1. Transactions (day, time, amount, etc);

2. Participants (user’s “digital” signature), and;

3. A cryptographic hash of the previous block to distinguish them from one another.

No, an NFT is a unique token on the blockchain that differs from cryptocurrencies which are not unique and are interchangeable.