What really are NFTs? A dumbed down version..

Does this sound familiar: You googled "NFT" and clicked on the first few articles. Each started by elaborating on the acronym. You couldn't move past that first sentence.

Here's a dumbed down definition: NFTs are certificates proving your ownership of a digital or a physical item.

Read it once more. Digest it. And then, read this:

Token: A piece of code programmed on blockchain for a specific purpose (in this case, representing ownership)

Non Fungible: Something that's unique.

A slightly more complex definition: NFT is a unique piece of blockchain code that certifies your ownership of an item.

When someone purchases an NFT, they don't necessarily purchase the digital artwork. They purchase the proof of ownership. Think of it as a certificate issued by the Louvre museum stating that you own Mona Lisa, even though the painting is not hanging in your house and there are a million copies of Mona Lisa out there.

In order to dumb everything down, I took the liberty of making a few technical errors. But, the goal of this post was to serve as a good starting point for beginners. Let me know if I accomplished it.