NFT
Non-Fungible Tokens are similar to cryptocurrencies, such as Bitcoin, but whereas individual Bitcoins all have the same value and are interchangeable, each NFT has a different value. NFTs exist on your computer as digital representations of artworks, songs, films, event tickets, and games.
BLOCKCHAIN
A blockchain is a shared electronic database, like a DropBox folder, except you can only add files to it. You can’t change or delete anything already there. There are loads of different blockchains. But most NFT creators use Ethereum, which uses an energy-intensive computer function called ‘mining’. It’s called mining because, like digital gold coins, that’s how new cryptocurrencies are created.
MINING
With DropBox your shared folder is looked after by a company for a fee. With a blockchain, there’s no company. Instead, the blockchain…