What does the concept of nft mean?

NFT is known as Non-Fungible Tokens, which translates to "Non-Homogenized Tokens/Irreplaceable Tokens" in Chinese.

Simply put, NFTs are an entry in the blockchain, a "unique" asset in the digital world that can be bought and sold, and used to represent some of the goods in the real world, but the way it exists is intangible.

At the moment, most of them are digital artworks or collectible cards. Some are virtual goods, others are packaged in common formats like JPEG and PDF. Only a few NFT tokens are a digital record of physical ownership.

Application Scenarios of NFT

Currently there are many application scenarios of NFT, such as digital art collections.A 4-minute short film created by Gucci Gucci creative director Alessandro Michele, empowered by blockchain technology, has become an NFT digital collection, which was auctioned at a high price.

There are also some virtual game products in which NFT is applied, such as Burberry's cooperation with Mythical Games, a game platform, in which a limited time and limited number of NFT goods are launched, including the virtual image of "Burberry Blanko", NFT jacket accessories and NFT shoes. NFT shoes and more.