WHAT IS A NFT?
WHAT'S A NFT?
A NFT or a (Non-fungible-token) is a digital file .jpeg or .gif file for images, .mp4 for audio files, along with dozens of other file types. That is recorded on the blockchain or in other terms notarized on the blockchain by a transaction either MINTING a NFT (Creating a NFT) or TRANSFER of a NFT from one crypto wallet to another crypto wallet.
A NFT can be MINTED on Rarible.com or OpenSea.io, you do not need to MINT NFTs on Rarible.com or OpenSea.io to showcase and advert your NFT. When MINTING or TRANSFERS of a NFT occur this is then called using GAS. Using GAS cost ETH, you use GAS or ETH to MINT or TRANSFER NFTs. The only thing non-fungible about a NFT is the signature on the blockchain.
Crypto Wallets contain all of your NFT files in storage in a digital ledger. Your crypto wallet contains your crypto coins and NFTs. For the future of NFTs a combination of QR Codes and UPC product labels will need to be implicated for stock/inventory in the META Verse for the success of the META and NFTs. Of course GAS must be much cheaper for this to occur!