Underground Moods
  • What is Underground Moods
    • Features
      • Underground Moods release specs
        • Dubplate vinyls on demand
        • Wishlist crowdfund
      • Mood Gem Market
      • Underground Moods Arts Club
        • UGM Faucet
      • The Holistic Vault
  • NFT Utilities
    • Underground Moods Releases
    • MGM Diamond NFTs
  • How To
    • Setup web 3.0 account
      • Step 1 - Create Avalanche wallet
      • Step 2 - Set up MetaMask
      • Step 3 - Add Avalanche network to MetaMask
      • Step 4 - Connect MetaMask with Kalao
    • Sell NFTs
      • How to sell a NFT on Kalao
        • How to sell an NFT on Kalao (using X-Chain)
      • How to create an auction on Kalao
    • Purchase $AVAX
      • Step 1 - Purchase $AVAX
      • Step 2 - Deposit $AVAX
  • FAQ
    • Frequently Asked Questions
      • I want to release music on Underground Moods
      • I want to make videos for Underground Moods
      • I want to develop software for Underground Moods
      • I want to read the terms and conditions
      • I want to read the privacy policies
      • I want a refund
      • I did not receive NFT after purchase
      • I can't see my NFTs in my account
      • I can't cancel NFT sale on Kalao
    • Technology
      • What is blockchain
      • What is Avalanche blockchain
      • What are NFTs
      • What is metaverse
      • What is wallet
      • What is staking
      • What is breeding
    • Links
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  1. FAQ
  2. Technology

What are NFTs

A NFT is a Non-Fungible Token.

It is a unique, non-interchangeable digital asset or a digital ownership if you will.

While exchanging fungible tokens, such as $ETH or $AVAX, will allow you to exchange one similar token to another, NFTs provide notion of traceability.

The difference between fungible and non-fungible tokens is that even though you can exchange 1 NFT for another 1 NFT, they will keep their specific parameters and be traceable.

Identifications such as the author's name, creation date, description or any other attribute guarantee high traceability.

The creator can also earn royalties from his NFT.

It allows artists to sell their works through a secure system and users to buy certified artworks.

Digital art or collectibles are common examples.

NFTs can be used to represent objects such as photos, videos, music and other types of digital files such as tickets.

They allow you to access the original file.

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Last updated 3 years ago