image by Dylan Calluy

NFTs are usually created and stored on Ethereum network. Other NFTs can be created and stored in blockchains like the Flow, Tezos, Solana and Avalanche support NFTs.

The advantage of having NFTs on blockchain is that it is public and that anyone can review the blockchain, thus the NFT ownership can be easily verified and traced, while the person or entity that owns the token can remain anonymous.

image by evolve

Therefore, different types of digital goods like NFTs can be “tokenized,” such as creative artwork, digital images, items in a game.

NFTs AND BLOCKCHAIN

It is crucial to know that the NFTs are not cryptocurrencies, but they are built using technology similar to crypto coins. Furthermore like cryptocurrencies, NFTs exist on a blockchain, which verifies their unique identity and ownership.

image by Shubham Dhage

The blockchain also keeps a record of all the transactions connected to the NFT and the property it represents. Many NFTs are held on specific blockchain networks such as the Ethereum blockchain.

If you have any question or comments, do not hesitate to ask us.

Quote: The moon looks upon many night flowers; the night flowers see but one moon. – Jean Ingelow