What is actually an NFT?

Nowadays, everyone is talking about the NFTs. Even several important video game companies, such as Square Enix, intended to incorporate them into their future releases. In fact, Ubisoft itself began experimenting with the implementation of NFTs in Ghost recon breakpoint. But, what the hell are the NFTs, and why are they so controversial? Here we explain it to you in a simple way.

NFT means non-fundable token, which in Spanish would translate as a non-fungible. That is, it is a property that you can not exchange for another equal. Money, for example, is fungible since it is possible to change a $ 20-pesos bill for another identical of the same value. Same case with cryptomoneds.

Many people describe the NFTs as digital art works. You can take a picture of a painting in any art gallery, but that does not mean that you already have the painting in your possession. You can save the JPG of a NFT, but as such you do not own it.

To work, NFTs use something known as technology blockchain, which is applied in cryptologies. This type of technology works through a network of computers with different intertwined digital blocks, which are protected with the use of cryptography. That is, it is impossible to modify the data of some NFT since these are registered in real time.

Each NFT has its own digital authenticity certificate, which is composed of a series of metadata that can not be altered. Within this information you will find things like your sales value, as well as all the acquisitions or transactions that have been done and of course, the name of the original owner of NFT.

NFTs Are Fueling a Boom in Digital Art. Here’s How They Work | WSJ

A NFT can be anything that exists within the digital world; From an image, up to a video, GIF, and in the case of video games, cosmetic accessories for your avatar or character. People tend to buy these digital tokens because their value usually increases with the passage of time, but it is not necessarily a guarantee that is going to do so do not think to spend all your savings in one of them.

Editor's Note: If you ask me, I think the trend for NFTs will not come beyond 2022. No more than several video game and brand publishers seek to incorporate them into their respective means, I feel that the community does not You will receive in a very good way to the point that you will not have another option more than eliminating them.

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