Page 169 - Reclaim YOUR DIGITAL GOLD (without audio)

Chapter Twelve

NFTs AND

BLOCKCHAIN

t seems like everyone is excited about a new
technological breakthrough known as NFTs (non-
Ifungible tokens). We will look at the rapid growth of
NFTs in such a short space of time in this chapter. It is
no secret that this new industry has enormous growth
potential. NFTs are data units stored on the blockchain
network. So real assets, such as paintings, music files,
or digital art, are represented by the token. In fact, NFTs
provide a certificate of authenticity or ownership of the
particular asset.

They enable anyone to obtain an original item based on a
contract stored on the blockchain. As a result, the barriers
to stealing, copying, or producing fakes are removed

Blockchain technology is a digitally distributed,
decentralized computer network that uses a method of
recording information that makes changing, hacking,
or manipulating the system impossible or difficult. A
blockchain is a distributed ledger that duplicates and

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