A non-fungible token, or NFT, is a special type of token which represents a unique ASSET on the Ethereum blockchain. Learn more here.
What is a non-fungible token?
The Ethereum blockchain brought a whole new digital world where digital assets could be tracked for uniqueness and scarcity, providing the perfect platform to create a one-of-a-kind type of digital asset. These assets are known as non-fungible tokens, or NFTs.
These tokens are built on a cryptocurrency platform in compliance with Ethereum's ERC-721, ERC-1155 and ERC-1337 token standards. NFTs are units of value which are non-fungible, unique and digitally scarce. They cannot be replaced by another equal part or quantity.
What are the benefits of NFTs?
Through the use of NFTs, users of The Sandbox will be able to benefit from true digital ownership, trading, security, immutability and cross-platform interoperability.
Take a look at the video below to learn more about NFTs and how they work.
NFTs: redefining the meaning of value through user-generated content in The Sandbox
User-Generated Content meets NFTs within The Sandbox