Go Ad-Free
My Alerts
Moneycontrol
Moneycontrol PRO
Get App Open
In App
News on WhatsApp
News on WhatsApp
Go PRO Now
Open App
HomeNewsbusiness

In Pics | All you need to know about NFTs

Non-fungible tokens (NFTs) have taken the digital world by storm. This digital asset is selling like some exotic item, sometimes fetching millions of dollars. Here’s all you need to know about this new tech trend.

Moneycontrol News | October 26, 2021 / 19:19 IST
1/9
Non-fungible tokens (NFTs) have taken the digital world by storm. This digital asset is selling like some exotic item, sometimes fetching millions of dollars. Here’s all you need to know about this new tech trend. (Image: News18 Creative)
Non-fungible tokens (NFTs) have taken the digital world by storm. This digital asset is selling like some exotic item, sometimes fetching millions of dollars. Here’s all you need to know about this new tech trend. (Image: News18 Creative)
2/9
NFTs are unique digital assets that represent real-world objects (art, music, tickets, fashion items, in-game items etc.). They provide verifiable ownership of digital items and are generally encoded with the same underlying software as many cryptocurrencies. (Image: News18 Creative)
NFTs are unique digital assets that represent real-world objects (art, music, tickets, fashion items, in-game items etc.). They provide verifiable ownership of digital items and are generally encoded with the same underlying software as many cryptocurrencies. (Image: News18 Creative)
3/9
The inventors created their first NFT in 2014 and named it ‘”monetized graphics”. They demonstrated the NFTs as a system of verifiably unique digital artworks. (Image: News18 Creative)
The inventors created their first NFT in 2014 and named it ‘”monetized graphics”. They demonstrated the NFTs as a system of verifiably unique digital artworks. (Image: News18 Creative)
4/9
The word fungible essentially means that something is interchangeable; it refers to things that can be divided in a bunch of different ways. (Image: News18 Creative)
The word fungible essentially means that something is interchangeable; it refers to things that can be divided in a bunch of different ways. (Image: News18 Creative)
5/9
A non-fungible token is tied to one particular digital asset and cannot be replaced. (Image: News18 Creative)
A non-fungible token is tied to one particular digital asset and cannot be replaced. (Image: News18 Creative)
6/9
The key difference between cryptocurrency and NFT is that cryptocurrency is fungible. You can trade a Bitcoin for another Bitcoin, you cannot do so for an NFT. (Image: News18 Creative)
The key difference between cryptocurrency and NFT is that cryptocurrency is fungible. You can trade a Bitcoin for another Bitcoin, you cannot do so for an NFT. (Image: News18 Creative)
7/9
NFTs have a feature that helps artists get a percentage every time the NFT changes hands; it ensures that artists benefit from the popularity of their art. (Image: News18 Creative)
NFTs have a feature that helps artists get a percentage every time the NFT changes hands; it ensures that artists benefit from the popularity of their art. (Image: News18 Creative)
8/9
There have been some attempts at connecting NFTs to real-world objects, often as a sort of verification method. (Image: News18 Creative)
There have been some attempts at connecting NFTs to real-world objects, often as a sort of verification method. (Image: News18 Creative)
9/9
Some examples of NFT sales. (Image: News18 Creative)
Some examples of NFT sales. (Image: News18 Creative)

Discover the latest Business News, Budget 2025 News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347