Blockchain and NFTs (Non-Fungible Tokens) are two related technologies that have become increasingly important in recent years. The blockchain is a decentralized database technology that stores transactions in so-called blocks and links them to form a chain. This structure ensures transparency, as once stored data can no longer be changed without this being visible to all participants. The blockchain forms the basis for many cryptocurrencies, such as Bitcoin and Ethereum, and also finds application in areas such as supply chain management, healthcare, and more.
NFTs are a special type of token based on the blockchain that makes digital goods unique. Unlike cryptocurrencies such as Bitcoin, which are fungible (also interchangeable one-for-one), NFTs are unique and non-interchangeable. They are used to verify and trade digital artwork, collectibles, music, and other media. Each NFT is unique and has a digital signature that proves its authenticity and ownership.
An interesting reason to learn about blockchain and NFTs is that these technologies are changing the way we own and trade digital goods. They offer new opportunities for artists, developers and companies and enable innovative forms of ownership and value creation. Understanding these technologies can help to better classify developments in the digital world and recognize the potential of new digital markets.