Innocent is in quotes, as even these cute pets are often thousands of dollars already paid.
For example, there is a website where you can trade and collect limited edition virtual cats (CryptoKitties).
You can think of ‘innocent’ things like collectibles. Non-fungible tokens are used to create verifiable digital scarcity. But why is it so interesting to buy an NFT with your hard-earned (or purchased) crypto coins? Anyone who is already familiar with crypto has a slight advantage. The possibilities are therefore practically endless: you can order a beer with it, book a hotel stay, but you could also buy an NFT with it! NFT BuyĬryptocurrencies and NFTs are therefore not the same, but you do need one to be able to buy the other. There are already countless physical stores in the United States and the rest of the States that accept bitcoins and other cryptocurrencies. However, nowadays it is increasingly used in (online) stores. Investing is also a popular cryptocurrency application. Is NFT cryptocurrency?Ĭryptocurrencies are virtual coins with which you can buy or pay for all kinds of products or services. Despite being two different things, NFTs are often still confused with Bitcoins and other cryptocurrencies. Can I get rich creating or buying NFTs?Ī non-fungible token (NFT) is a unique file that is stored on a digital cash book, also called a blockchain.Įach NFT stands for a unique digital article or item that is not replaceable (fungible), unlike, for example, money or Bitcoins that you can exchange freely and indefinitely.
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