What is an NFT?

You may have heard of NFTs in the news or social media from independent artists and established brands. More people are joining the NFT space every day. So, what is an NFT? Read through our guide to learn about this unique blockchain application.

What Does NFT Mean?

“Non-fungible” means that it is completely unique. “Token” means that it can be transferred on a blockchain. Essentially, NFTs are assets that carry a unique digital identity and can be traded between users on a public blockchain.

How Do NFTs Work?

NFTs can be many things; most often they are represented as artwork, but NFTs can actually unlock a lot of things including digital and in-person experiences, etc. It works like this – because NFT ownership can be instantly and easily verified on the blockchain, NFTs can act as proof of ownership. This is helpful in categories like art, where provenance is such an important part of the collectability of a piece. But this provenance, or proof of ownership is even more useful when applying NFTs to things like experiences; for example, you might in the future use an NFT to unlock access to a digital or in-person gallery or event for a specific artist, with the NFT acting as a ticket or pass to grant you access. The possibilities are really endless.

Regardless of whether you are a brand, an institution, an artist or collector, NFTs work in the same way. NFTs empower creators to connect directly with fans and enable new types of exclusive experiences that can be virtual, in-person, or both.

How are NFTs Used?

NFTs offer further utility over traditional art pieces. NFTs can be traded on online marketplaces or exchanged directly between individuals.

NFTs also provide a variety of specific benefits for artists, such as royalties. NFTs can be programmed with royalty features that reward artists for every sale in specific marketplaces, allowing artists to sometimes even be able to get royalties for secondary marketplace sales if their work is resold–this is one of the biggest attractions of NFTs for artists.

NFTs provide a new way for fans and collectors to support the artists they love. It’s even possible to use NFTs as special tickets, offering exclusive benefits to certain owners. Since the ownership of NFTs is verifiable on the blockchain, they offer a whole new world of possibilities for engaging between creatives, brands and fans.

Your Chance to purchase a unique SHARKAPHANT NFT for charity.

AquaMeridian is selling 10,000 NFT’s as the first and only ever charity to sell NFT’s for the sole purpose to raise funds for charity. Our unique mascot SHARKAPHANT will be bedazzled in all that glitters and shines in this rare and once in lifetime opportunity to snap up a collectable NFT and do good for the environment, saving endangered and near extinct species, conserve underwater habitat and species as well as promote the environmental and conservational education to our youth. These NFTs will be much sort after not only for their collectability but also for the true meaning and worth behind them.

Be one of the first to grab your NFT by clicking on the below button.