What is an NFT?

NFT stands for Non-Fungible Token. It is something that is unique, one of a kind, and cannot be replaced. The original Mona Lisa is non-fungible because there is only one. No other piece of art is the Mona Lisa and even a poster of the Mona Lisa is not the same as the original. Each artistic creation is unique, distinct from all other pieces of art. Conversely, a dollar in your pocket is fungible. It can be replaced with another dollar and used the same way; there is no difference between individual dollar bills.

NFTs and their information are recorded on a blockchain, just like cryptocurrency. This is the digital equivalent of provenance in the art world. So, the NFT’s creation, sales price, and ownership are all on a blockchain ledger that anyone can see.

In the NFT world, we are talking about anything digital. And in the case of Hero Dose, our NFTs are digital art. Our NFTs are unique (and scarce!) pieces of digital art for ownership, just like owning a Banksy, but digital.

You own the scarce piece of digital art. The NFT contract stipulates that it is an original and how many are in the series. The blockchain records ownership and data on the NFT.

For more in-depth information, check out the blog :What is a Non-Fungible Token (NFT)? by Open Sea