Digital Scarcity
While cryptocurrencies are fungible (each unit is identical), NFTs create verified digital scarcity through unique tokens that can't be replicated.
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Understand the fascinating connection between NFTs and cryptocurrency, and how they're reshaping digital ownership and value exchange.
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Similar ideas to Digital Scarcity
Understanding digital scarcity
Digital scarcity can be seen as a supply and demand phenomenon. The NFT technology gives you the supply, not the demand.
NFTs impose scarcity on something that doesn't naturally have scarcity. The free aspect of the internet means anything you make has zero reproducing value. The NFT tech...
What is an NFT?
NFT stands for Non-fungible token.
- cannot be exchanged/replicated/replaced because they are unique.
- allows you to buy & sell ownership of unique digital assets.
Non-fungible token (NFT)
- In economics, a fungible asset is like money - it is something with units that can be interchanged. With money, a $10 can be exchanged for two $5, and it still has the same value.
- If something is non-fungible, it has unique properties and cannot be i...
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