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What is an NFT?
The acronym NFT stands for Non-Fungible Token.
"Non-Fungible" means that it is a unique item and cannot be exchanged for another of the same kind. For example, a work of art cannot be exchanged for another because they both have characteristics that make them unique.
On the other hand, we have money or cryptocurrencies, which are fungible. This means that a dollar can be exchanged for another dollar, just as a bitcoin can be exchanged for another bitcoin, as they are identical and have the same value.
NFTs are considered digital art because, in addition to being unique, they are stored on the blockchain, making it very easy to track who their owner is at any given moment.
But NFTs are much more than art; they can have utility. In the following sections, we will explain all the advantages that World Challenge NFTs offer you and everything you will be able to do with them.