Virtual Currency News | What are the noteworthy NFTs related to cryptocurrencies (crypto assets)? [Ohira]

Mr. Oohira's Profile

Cryptocurrency history since 2015 and FX history since 2009. Utilizing cryptocurrency investments and past experience, currently delivering cryptocurrency information on major newsletter sites and investment sites. He participates in numerous individual investor networks and shares knowledge gained from many investors. Running a cryptocurrency investment information site for beginners since 2016.

Blog:The Future Potential of Cryptocurrencies — Investment Methods for Beginners to Earn

*This article is a reprint/edited version of an article from FX攻略.com, December 2020 issue. Please note that the market information stated in the text may differ from current market conditions.

What is NFT?

NFT has been one of the notable topics in 2020. NFT stands for Non-Fungible Token. In Japanese, it is called non-fungible token. A token means currency, and NFTs are assets on the same blockchain as cryptocurrencies (digital assets), but they are distinct from assets like Bitcoin. Here, we introduce the features of NFTs that have been attracting attention and information related to investment.

NFT, because it uses blockchain, is similar to cryptocurrencies, but it is positioned more as an asset than a currency. It is used in contexts such as contests, artworks like illustrations and paintings, automobiles, real estate, etc. In other words, it means holding rights to an asset in the form of an NFT. It is also possible to share ownership rights of a single asset among multiple people.