What is NFT ? Basic and risks for new handsets

NFT What is it?

NFT or non-fungible token is a record on the blockchain that represents ownership of unrepeatable digital objects such as works of digital art, collectibles, items in games, or membership cards.

What distinguishes it from a normal cryptocurrency is that it's an exchangeable coin, like the ETH . Each unit has its own unique identifier and most of them contain different metadata. Unlike 100 baht banknotes, which are not numbered in the same way.

Being the owner of NFT means what?

When you buy NFT , what you're carrying is a token that points to content or an item of value stored on the blockchain in a wallet controlled by its owner.

Most trading takes place on a specific marketplace, where sellers list their bids and buyers choose to bid or pay at the price set by cryptocurrency.

Risks that newcomers must be aware of before taking action

• ¢ The price is variable and there are high profits The price of a collection NFT in the past has risen and fallen tremendously, and the past price level of any collection is not an indicator of its future value.
• This is a list of countries by iron ore exports to the European Union. It's been found that on Marketplace NFT there are cases where the same parties buy and sell for themselves to create an impression of demand, making a sales pitch that may not reflect actual demand.
• สิทธิ์ในเนื้อหาไม่ชัดเจน (Rights in content are not clear) Because someone creates (mint) NFT that points to images they don't own, buyers should check to make sure the seller holds copyright in the content being sold.

Summarize briefly

NFT is a tool for recording ownership of specific digital objects on blockchains. It is useful in many cases, but the market has high volatility and there are fraud tactics to be aware of. This article is intended only to explain basic understandings and risks, not recommendations to buy, sell or invest in NFT , or any combination thereof