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We have been hearing about Non-Fungible tokens or NFTs a lot recently, therefore we thought let's shed some light on it!

In this thread, we will cover -

Fungibility
Bitcoin v/s NFTs
NFT sales
Applications
Advantages
Concerns

#LearningswithJST

Let's go 👇
First, let’s know what fungibility is.

It refers to the ability of an asset to be exchanged or substituted with similar assets of the same value such as currency.

you can exchange 5 notes of Rs 100 for 1 note of Rs 500. The value is Rs 500 (despite being in another form)
NFTs are the opposite of that

Each one is unique and can't be substituted for something similar

Think of the Mona Lisa painting - an original piece of art. It can’t be swapped for a poster of the same painting from a gift shop because the poster doesn’t hold the same value
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