What is an NFT? (Crypto Beginners)

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So I’m going to describe what an NFT is in the most basic terms as I can.

NFT stands for Non Fungible Token.

Fungible means something is able to be exchanged or substituted and will hold the same value. It’s interchangeable like the dollar, gold, casino chips, bitcoin, ethereum or frequent flyer loyalty points.

If I lend you 10 dollars cash and you return to me two 5 dollar bank notes, I’m fine with that because even though they are different, they hold the same total value.

So non-fungile obviously means it’s an asset that can’t be substituted. It has unique attributes that makes it different from something else in the same asset class. Like a painting, a theatre ticket, a house, a video game skin, a trademark or a CryptoKitty which was the first real use case to take off on the Ethereum blockchain in 2017.

Some of these assets are physical and tangible and others are digital and intangible.

So NFTs are non-fungible tokens. ‘Token’ refers to a digital certificate stored on a secure distributed database called a blockchain.

NFTs are digital assets. Publicly verifiable intellectual property authenticated on a blockchain.

A popular place to currently browse a variety of NFTs is on

It’s an exciting space, I believe the NFT space will continue to grow in the coming years with some popular use cases being: Digital Art, Virtual Land, Gaming, Collectibles, Finance and much more.

I thought this was worth explaining because I think we’ll be talking a lot more about this in the coming years.

If you’re also interested about the future of art and design like I am then come follow me on my channels.

Opensea:

My NFTs:


The Noun Project Attribution (icon credits):
cash by Vectors Point
gold bullion by sandra
casino chip by Justicon
Loyalty Staff by Vectors Market
artwork by Andy Gigante
theater tickets by b farias
House by Larea
Zombie by Lluisa Iborra
copyright by ArmOkay
Blockchain by Javad
SSL Protocol by Oleksandr Panasovskyi

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Responses (48)

  1. We're all fucked. They're legit going to put us in a video game. Y'all watch the new Matrix?

  2. As long as I don't get paid a salary in nft's I don't give a shit what happens. I'm not buying nft's.

  3. such a useful and thorough explanation about NFT. keep it up dude! where do you recommend me going to learn more about NFT? any recommendation for courses? Thanksss

  4. Butter sells NFT

  5. The problem of NFT's is ownership, you never own the NFT like buying from the store and you can only use it in the store itself. LTO network presents NFT2.0. They solve with the hybrid structure the problem of the current NFT's.

  6. Thanks man. Great!

  7. A video game skin. yeah, nobody else can use my same skin…

    Hey look, I made an image, but I added a random bit to it. It’s different. NFT’s make ZERO sense and it’s just a buzzword to make people give their money to those willing to be horrible human beings.

    NEXT UP, NFT VIDEO GAMES!!! YOU OWN THE LIMITED EDITION NFT COPY OF FORTNITE++, EVEN THOUGH FORTNITE REGULAR IS THE SAME THING! But wait, you have random bits associated with your copy, you’re special! Yes, if you fell for that shit, you are special.

  8. Stick to cash , thats iiiiiit

  9. Idiotly overvalued naked King or lets say new fintech software developer masturbation : NFT

  10. I’ve been hearing about NFT’s for a while now but dreading (for some reason) taking the time to learn about it all. I’m a millennial it should just click…lol kidding. it’s all very intriguing and I have a sense that acting on it early will be very beneficial. I still have a lot of questions. For one, why would just anyone want to buy an NFT ? Is there a target audience/consumer-base? Is this a hint of a societal transition to web images(or whatever) some day not being available (for free) on the web?

  11. It makes no damn sense.

  12. nfts are stupid im gonna annoy nft makers on there

  13. Hola alguien que lo tenga traducido XD

  14. Me who think nft is not for trade 😑.

  15. Nft are a scam. there you go end of the video

  16. So basacly the unwashed Justin beiber underwear I have is a nft and can be sold for a good price over the years?

  17. do you have a vid on how to invest in NFT

  18. Solid vid…. Short which is the new way of YT watchable vids…… little but educational narration…. Clear and to the banging point ⭐️⭐️⭐️⭐️⭐️

  19. So if NFTs are non-fungible then how do we exchange them for currencies such as money or, in case of the popular digital NFTs at the moment, digital drawings?

  20. But can't we use dollars to buy all these things?

  21. Damn—the matrix WAS right. Manipulation gonna be crazy in the near future.

  22. I know that Beeple said that he does have some original works of art that he draw freehand in the beginning. Can I upload drawings and paintings that I've done in the past that were done with pencil and actual paint? Just getting into this, so I'm learning.

  23. I own my comment here and willing to sell it off as NFT! Someone please pay 1 million $ to buy my comment here!! Please!……:(
    Nonsense!

  24. I still don’t think I understand 😩

  25. sir anti ape association there is too much hype going on take a look at it

  26. So it's basically real world trading. (Runescapers will get this reference.)

  27. So in reality they're even more worthless that cryptocurrency?

  28. So does ethereum employ clerks to check the authenticity of the ownership claim before granting a certificate? How is the digital file referenced in the certificate, does it hold the bit sequence of the file or some kind of http/ftp link to the file, is it a hash of the file…? How is the "owner" represented on the certificate, is it your social security number, DL, IP address, username, some "wallet" hosted on some server, how do I host my own wallet? How is this not banned for how utterly stupid and incoherent it is?

  29. 👆👆👆Since the day I started working with you … I know I've changed a lot, your strategy and technic has really helped me to become a better person inside and outside …… you're one of the reason why I always try my best … you have influenced my life in such a position way and also change view of investing and mining. Thank you so much sir

  30. So is my 17 year old steam account an NFT ?

  31. I still dont understand what the hell that is

  32. Okay…..so I still dont understand what he talked about!! I'm educated and relatively intelligent, but…..sooo lost!!

  33. The question is, CAN YOU CREATE THE SAME ART WITH DIFFERENT TOKEN?

  34. I thought it was crap and now I know its crap, thanks.

  35. So what happens when you buy a nft? I don't understand like what can I do with digital piece of art can I convert it to real money ?

  36. So now normal people are buying stuff that will never exist while others are dying of hunger… Great

  37. I don't want that shit in my games

  38. You sound like a non-Canadian Kurtis Conner!

  39. That was good and brief

  40. Thanks for this, people art talking about nfts more now, and watching this, makes me understand it more!
    still getting used to it tho