How do NFTs work? NFTs work with blockchain technology. The blockchain is a large, digital, decentralised and public data set.
Instead of a central, company-owned server, the blockchain is distributed across a peer-to-peer network. The blockchain records all data and transactions as blocks that are linked together and is uniquely able to maintain verifiable authenticity and digital ownership.
When someone puts on, transfers, buys, sells or does anything else with an NFT, it is all recorded on the blockchain.
This record enables authentication and serves as a permanent record of authenticity. This information can be viewed or accessed by anyone.
When you buy a piece of art or a collectible, you usually get a paper certificate of authenticity. This can easily be forgotten, lost or destroyed, making the system of authenticity vulnerable.
Blockchains offer a simple and more secure solution to the long-standing problem of proving authenticity.
