An NFT Is a Non-Fungible Token. Think about a gold or silver coin and dollars/bank currencies, these are all fungible, which means that they can be duplicated or copied for a standard medium of exchange.
What makes a Non-Fungible Token so unique, is that it cannot be copied. Many people don’t see how this can be important because we are still at the brink of the digital age. Imagine a famous painting, like anything created by Van Gogh for example. His work can be copied by other artists or printed up by the best and most detailed printers, it’s still not the work of Mr. Van Gogh.
Being able to hold a true genuine work of art is valuable. In the digital age the same rules apply. We are still trying to figure this all out which is why an NFT seems like it has no true value. Maybe they don’t have value, but as long as people love them, they are valuable if people desire to possess them.
The fact that there is only one original copy makes an NFT valuable for the same reasons that a painting is valuable. One day, we will look back and it will be obvious why NFTs are valuable.
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