What is an NFT?
An NFT stands for non-fungible token. Things that are fungible can be swapped for items of the same type and value – like traditional currencies. When something is non-fungible it cannot be changed like that because it is unique.
Imagine a rare trading card or famous painting – there will only ever be one original no matter how many copies exist.
The token is a unique digital certificate of ownership for virtual items that cannot be replicated. So, once you buy an NFT, it’s yours forever to do with as you please. Buy, sell, keep – it’s entirely up to you.
The Swarez difference
The cool thing with Swarez NFT’s is that ALL my digital images (which are taken from real paintings) come with a hi-resolution version. An image like that would make a brilliant print.
So even though NFT’s are digital you can choose to turn a Swarez into something you can actually hold in your hands!
Original vs. copy
Sure, copies can be found of images just about everywhere but NFT’s give you the opportunity of buying an original – with a public ledger that records this across thousands of computers. This is called a blockchain.
Interestingly, if you stop and think for a moment – we’ve been enjoying ‘virtual art’ for lot longer than you think.
Imagine the Mona Lisa – one (very famous) original painting. You can enjoy seeing it if you decided to buy a print or download an image.
However, you don’t own the original – simply a digital version of it. If you’ve bought a print then that’s also created from a digital version. So if you stop and think about that you’ve never actually handled or owned the original – merely a ‘virtual’ version of it.
And that’s the principal of an NFT with one notable advantage – you own the original digital version!