How do NFTs work?

NFTs are an alternate to an ERC-20 token. The difference being that NFTs individual tokens are unique and not divisible.

Ownership is managed through the UNIQUEID and Metadata that no other token can replicate.

Smart-Contracts are stored inside NFTs and can be executed to assign ownership and manage the transferability of the NFTs. These examples are some of the many functions available with Smart-Contracts.

Here's why it works:

  • Transaction history and token metadata is publicly verifiable - it's simple to prove ownership history.

  • It's nearly impossible to manipulate data to 'steal' ownership

  • Trading NFTs can happen peer-to-peer without involving platforms that incur fees.

  • Decentralized and secure

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