nft69

NFTs are a native token, issued on top of the blockchain, which is intended to be as similar as possible to a cryptocurrency. In this sense they are also sometimes called “crypto-collectibles”. NFT's work by having a unique identification number that can't be changed or tracked back to an individual. image source: solanamonkeyapes.com In the case of traditional blockchain applications, transactions usually transfer ownership from one person to another. But in the case of non-fungible tokens, each token records its own transaction history and no single person can control them all because they have different ownership histories and live on different blockchains with their own rulesets. image source: fortune.com The native token, nft, is used to pay trading fees and as a collateral for loans on this protocol. The tokens were specially designed to be compatible with ERC20 tokens, allowing for easy transfer between exchanges which support the protocol. image source: cryptoslate.com