From the course: Digital Marketing Trends

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Non-fungible tokens: Building digital value

Non-fungible tokens: Building digital value

From the course: Digital Marketing Trends

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Non-fungible tokens: Building digital value

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- [Instructor] A sponge made of fudge. I know that sounds silly, but it's what I think about when I hear the term non-fungible token. Of course, NFTs have nothing to do with candy or cleaning implements. They're a new way for creators and brands to monetize a digital asset. But how do they work? Let's dive into the murky NFT waters to find out. Basically, non fungible tokens are unique identifiers attached to a digital piece of content. They provide verified proof of ownership for say, a video, a GIF, an image, or a tweet. The term non-fungible itself means unchangeable. So no matter how many times an item is sold, it retains the original ID. The process starts when a content owner creates or mints a token associated with a product and then sells the token online. The difference between an NFT and many other assets you may have, is that it can't really touch it. But you can still experience it, show it off, and…

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