First, the English full name of NFTNFT is irreplaceable Token, which translates into Chinese as: indivisible, irreplaceable and unique heterogeneous token.
In the blockchain, digital cryptocurrency is divided into primary currency and token. The former, like the familiar Bitcoin and Ethereum, has its own main chain, which maintains the ledger data through transactions on the chain;
Tokens are associated with existing blockchains and use smart contracts to record books.
Now tokens are divided into two categories, one is homogenization and the other is non-homogenization.
Isomorphic tokens, namely FT (Replaceable Token), can be replaced with each other and can be split indefinitely. For example, if you have a bitcoin in your hand, it is no different from having a bitcoin in my hand. This is called a homogenization token.
Heterogeneous token, NFT, is a unique and inseparable token, such as encrypted cat, digital ticket and so on.
This is equivalent to the serial number of RMB. There can't be two identical numbers in the world, let alone two identical NFT.
Second, NFT can be used in the field of art, and NFT can determine the uniqueness of digital works in the digital field, which gives it the possibility of trading.
In addition, NFT can also be used in the field of games. In the future, NFT technology can turn heterogeneous virtual property into real money, and its peer-to-peer transactions will be more free and transparent, so players can really own their own digital property.
Most importantly, NFT can also be applied to the field of data security to protect digital security.