What Are NFTs?
You’ve probably seen stories about people spending huge amounts of money on digital things like pictures, short videos, or even tweets. These are called NFTs, which stands for Non Fungible Token. I’m not an expert on this stuff, but I’ve been looking into it through some sources that seem trustworthy, and here’s how I understand it.
What does “non fungible” mean?
If something is fungible, it can be replaced by another of the same kind. One dollar bill is the same as any other dollar bill. You can swap them and nothing changes.
If something is non fungible, it’s one of a kind. The Mona Lisa is non fungible because there’s only one real version. You can make copies, but there’s only one original.
What’s a “token”?
A token is a kind of digital certificate that proves ownership of something. NFTs use a technology called a blockchain to keep track of who owns what. A blockchain is like a big public record stored on thousands of computers around the world. Everyone can see the record, and each computer helps make sure it stays accurate.
How do you buy an NFT?
You can’t walk into your favorite chain store and buy one. NFTs are sold on special websites called NFT marketplaces. To buy one, you first need a digital wallet that can hold cryptocurrency, like Ethereum. You use that digital money to pay for the NFT. Once the transaction goes through, the blockchain records your name as the new owner of that token.
Why do people buy NFTs?
People like owning things that feel rare or special. It’s the same reason someone might collect baseball cards or paintings. NFTs make digital items feel like they’re one-of-a-kind, even though anyone can still see or copy them online.
The psychology behind NFTs
A lot of this comes down to human nature. People want to own something unique, something that says “I got here first.” It’s about belonging and status, even if it’s in a digital world. Some people buy NFTs hoping they’ll go up in value. Others just want to be part of a new trend. It’s a mix of curiosity, risk, and the same kind of excitement that drove Beanie Babies, baseball cards, or comic books.
How much energy does it take?
The blockchain isn’t just floating in the air—it runs on thousands of computers doing calculations nonstop. At one point, the Ethereum blockchain used about as much electricity in a year as a small country.
What could this technology do?
Even if the NFT craze cools off, the same technology could be used for more practical things. It could handle digital event tickets, game items, music rights, contracts, or even property records someday.
We are not promoting or investing in NFTs, and and not getting paid to write this. This is just for informational purposes so that when you hear about NFTs being passed around online, you’ll have a better idea of what people are talking about. – Crash Connell
Further reading
GotQuestions.org — “What is a non-fungible token (NFT), and should Christians buy them?” — https://www.gotquestions.org/non-fungible-token-NFT.html