LogFAQs > #961453733

Spidey5 posted...

I'm starting to believe I'll never understand what an NFT is. I thought it was some kind of image people uploaded that for some reason has value. Now its... parts of a video game? Eh, don't bother explaining it to me. I'm okay with not knowing what this shit is.

Take away all the fluff, and an NFT is essentially a crypto token (like a cryptocurrency, but it exists on another coin's blockchain instead of having its own) that can't be divided into partial units, and usually exists in very limited quantity, possibly even only one of a kind.

Declaring that a particular NFT represents ownership of a piece of art is one way in which they can be used. Posession of the NFT unlocking gear in a game is another. But strip away what people see it as / what software does with it, and it's ultimately a (usually) low-supply, indivisible, crypto token.