Recently, Facebook CEO Mark Zuckerberg rebranded the social giant as Meta Platforms Inc., underscoring the growing popularity of a promising phenomenon: the metaverse. This Metaverse concept has a connection with non-fungible tokens (NFTs), the very token we can use to represent ownership of unique items? Hence in this blog, we are going to understand first what is NFT and then in further blogs I am planning to cover Metaverse. What is an NFT? The acronym NFT means non-fungible token, which means a unique digital asset that cannot be modified or replaced with something else on the blockchain. Unlike Bitcoin, which is a fungible cryptocurrency, which can be traded for a predetermined value, like any other currency or money. An NFT is a unique token with no interchangeability with other tokens – much more like a piece of art. Those unique NFTs do not have a set standardized value. Instead, non-fungible tokens (again much like art) are based on the current market value. The ...