The buzz about NFTs has become really disturbing. My friends have had to ask me, what is this NFT thing, people have been saying all around.

Now, how do I explain without mentioning terms like Metaverse, Web3 and the rest of these Jargons? In this article, I will explain NFTs in the simplest way, even a 4-year-old will understand or at least, I will try.

10 Things to simply understand NFTs like a 4-year-old

1. NFT is an abbreviation for NON-FUNGIBLE TOKENS

“Non-Fungible” is simply an English word, a synonym for something that is unique, and also means that there can only be one version of it. $1 Note is Fungible, meaning there are tons of $1 notes printed and if I exchange a $1 note with another 1$ note, I will still get the same thing and the same value.

However, If I have the Mona Lisa Painting, that is Non-Fungible! There is only one of the Original Paintings. If I decide to exchange it, I cannot get the same Original Mona Lisa Painting again. Any other version will be fake or a duplicate. “Token” on the other hand, can be referred to as a thing, serving as a tangible representation or a voucher or a ticket for something.

Thus, if you put the two together, it can simply mean a unique tangible representation or a ticket to a particular digital piece of art. Now, NFTs can be in form of an ART, MUSIC, VIDEO or any form of art or piece created.

2. For easy understanding, when you think of NFTs, I want you to think of Artwork Collections in a Physical Art Gallery

For Example, Nike Art Gallery in Nigeria or Louvre Museum in France. Now, when you understand what they do in Art Gallery, it becomes easier. Creating Arts, Holding Exhibitions. Bidding, sale and collections of these Arts and everything else they do in a physical Art Gallery.

NFTs are basically the Digital representation of what we do in Art Galleries, well, just with a bit more frenzy and advantages.

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