Welcome back to EZ Wallet 101, the all and everything Web3 and blockchain series of EZ Wallet. In this article, you will learn more about NFTs and how it works. Additionally, you will see how NFTs Integration can be a thing you should have under your radar.
What is an NFTs
Well simplest to explain, NFT — Non-fungible token can be anything in digital form. It can be a digital image, a piece of music, a tweet or even a test that is uploaded on a website. Things can be variable with NFTs nowadays.
This implies that a person may possess a digital file that has been identified using a code to distinguish it from any copies made online.
NFTs give people a way to have clear ownership over digital items. Consider how they’re the same and different from a physical object, like collectible cards (Pokemon, NBA, etc).
NFTs allow people to have a clear ownership over their digital assets. See collectible card as an example, Pokemon, NBA, etc. In real life, you gotta have the physical piece which has to be verified by third parties to show that you are actually owning the original piece. But in terms of NFTs, things run in different ways. Here are some advantages of NFTs
- Collectible digital items
- Value changes based on what other people are willing to pay
- Security feature: unique data added to a digital work
- You can buy, sell, trade, or give NFTs to anyone online, but a network of computers must verify the trade and the unique data
So, how does NFTs work?
To start everything, NFTs exist on blockchain, which is a distributed ledger that records transactions.
Specifically, NFTs are typically held on the Ethereum blockchain (or some other chains like BNB, etc.). An NFT is created, or “minted” from digital objects that represent both tangible and intangible items, including: Images, graphics in all kinds, collectibles, game items or skins, sneakers or music.
Tweet can be considered a piece of art when Jack Dorsay sold his first ver tweet as an NFTs for more than $2.9 Millions
NFT holders also receive exclusive ownership rights. Yes, NFTs can only have one owner at a time. Due to the distinctive data of NFTs, it is simple to confirm ownership and transfer tokens between owners. Additionally, the author or owner may choose to store particular data inside them. As an illustration, artists can sign their work by putting their signature in the metadata of an NFT.
EZ Wallet NFTs Integration Feature
EZ Wallet integrates NFTs to further verify the transaction authenticity. Aligning with the Sending With Confirmation — one of the advanced features of EZ Wallet which allows both sender and receiver to confirm the address is right before sending their crypto by using the EZ Wallet confirmation protocol.
Senders don’t need to micro-analyze every character and digit of the recipient’s wallet address because each NFT has its own distinct attributes and characteristics that make it possible for them to feel secure in who they are sending to. Additionally, it allows the user to showcase their NFT collection and forge a distinctive online image. The EZ Wallet community is engaging, liberal, and crucial to the growth of the project. We appreciate crypto’s pseudonymous features for this reason. We may manage our money while expressing ourselves under our own distinctive and unrestricted crypto pseudonym. And by doing that, everything is more secure!
Follow EZ Wallet On Social Media
(Cause it’s free!)
Twitter | Discord | Newsletter