NFT or non-fungible tokens are becoming increasingly popular recently. This new concept has revolutionized physical art. Now creating and selling unique and scarce art has become easy and smooth. Due to blockchain technology, it has become easy to exchange millions of dollars worth of NFT art without any hurdle.
The best part is the peer-to-peer concept that eliminates the middlemen and thus increases the accuracy of cryptocurrency transfer. Cryptocurrency and NFT both are encoded with the same underlying software, blockchain technology.
Non-Fungible Token
Non-fungible tokens or NFTs are called non-fungible because these digital art are unique and individual. Each token has unique identification code and are stored in metadata. Therefore, you cannot replace it with other items or collectibles.
Furthermore, non-fungible tokens cannot be fractionalized in smaller amount like cryptocurrency like Bitcoins, Ether, etc. NFT are sold it on its given selling price and its value cannot be fractionalized.
Fungible Tokens
Fungible tokens are those that can be with other coins or digital items. The prime example is the cryptocurrency. The digital coins like Bitcoin, Ether, altcoins, and other digital coins have the market value. You can exchange or convert one coin to another on blockchain network. Plus, these coins are fractionalized in smaller amount.
About Krazy Kong NFT
Krazy Kong is one of the modern apes who is trying to get over his tumultuous past and fit into modern human society. The main motive of this NFT project is to bring awareness to environmental and social issues including deforestation, animal rights, inequality, and conflict within and between animals and humans. Read more: Verify the Authenticity of an NFT
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