MasonMUS's definitions
Non-fungible token.
An irreplaceable award, often described in the music industry to label a physical trophy distributed by an artist to one lucky winner.
“Non-fungible”, meaning unique and one-of-a-kind. “Token”, as in an award or trophy
Not all NFTs are free or involved in a giveaway. An NFT may be used in a raffle or bidding. However, the highest bid nor total raffle amount determines the value of the NFT. After all, it is meant to be the only existing one of its kind.
An irreplaceable award, often described in the music industry to label a physical trophy distributed by an artist to one lucky winner.
“Non-fungible”, meaning unique and one-of-a-kind. “Token”, as in an award or trophy
Not all NFTs are free or involved in a giveaway. An NFT may be used in a raffle or bidding. However, the highest bid nor total raffle amount determines the value of the NFT. After all, it is meant to be the only existing one of its kind.
Person 1: Yo, my favorite artist is dropping an NFT. We should enter to win.
Person 2: If I don’t need to pay to enter then I’m down, let’s win this!
Person 2: If I don’t need to pay to enter then I’m down, let’s win this!
by MasonMUS March 29, 2021
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