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The Web3 Revolution: Building the Future of Blockchain, DeFi, and the Metaverse

Name: The Web3 Revolution: Building the Future of Blockchain, DeFi, and the Metaverse
Author: Hui Gong
ISBN: 9798868804915

by Hui Gong

November 2024

Intermediate to advanced

349 pages

6h 22m

English

Apress

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Content preview from The Web3 Revolution: Building the Future of Blockchain, DeFi, and the Metaverse

H. GongThe Web3 Revolutionhttps://doi.org/10.1007/979-8-8688-0491-5_7

7. Non-fungible Tokens (NFTs) and Digital Art

Hui Gong¹

(1)

Institute of Finance & Technology, University College London, London, UK

7.1 Understanding NFTs: Mechanisms and Market Dynamics

Non-fungible tokens (NFTs) represent a groundbreaking shift in the digital ownership paradigm, leveraging blockchain technology to certify uniqueness and ownership of digital assets. Unlike fungible tokens, such as cryptocurrencies, which are interchangeable and hold the same value (one Bitcoin is always equal to another Bitcoin), each NFT is unique or ‘non-fungible’ and cannot be exchanged on a like-for-like ...

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The Web3 Revolution: Building the Future of Blockchain, DeFi, and the Metaverse

by Hui Gong

7. Non-fungible Tokens (NFTs) and Digital Art

7.1 Understanding NFTs: Mechanisms and Market Dynamics

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.