The ownership of an NFT as defined by the blockchain has no inherent legal meaning, and does not necessarily grant copyright, intellectual property rights, or other legal rights over its associated digital file. ![]() Proponents of NFTs claim that NFTs provide a public certificate of authenticity or proof of ownership, but the legal rights conveyed by an NFT can be uncertain. Because NFTs are uniquely identifiable assets, they differ from cryptocurrencies, which are fungible. ![]() NFTs typically contain references to digital files such as photos, videos, and audio. NFTs can be created by anybody, and require few or no coding skills to create. The ownership of an NFT is recorded in the blockchain, and can be transferred by the owner, allowing NFTs to be sold and traded. Illustration of a non-fungible token generated by a smart contract (a program designed to automatically execute contract terms)Ī non-fungible token ( NFT) is a financial security consisting of digital data stored in a blockchain, a form of distributed ledger.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |