What Is NFT Art?

NIFTYHYPE Editors
Answered 
01 Jan 2022

Before going too deep, it's important to understand what NFTs are, and how they work.

NFTs are unique digital assets. They are not interchangeable like dollar bills or bitcoin.

They live on the blockchain, with a unique address. Some NFTs are completely unique, meaning there is only one single copy of that NFT.

Other NFT projects feature the same NFT, in limited quantities. For example, there might be 100 editions of a specific digital collectible. Each one has an edition number and a unique address. So even though the image may be the same, it's still a unique asset.

The address of the NFT tells you everything you need to know. It points back to the original creator, even if it has changed hands dozens of times since then.

This is how to maintain authenticity in the NFT space. If you want to buy an authentic collectible, such as a CryptoPunk, you need to look at the address.

It will tell you which collection it belongs to, and who originally launched this NFT. By looking at the address, you can confirm you are buying a real CryptoPunk vs. a knockoff. And yes, there are plenty of knockoffs.

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