What is NFT?

I encourage you to watch my video on top and hopefully gain more insights into NFTs (Non-Fungible Tokens).

NFT is not about What is on the Picture, Video, or 3D Models, it is all about Ownership - What Profits, Utilities, or Privileges will your NFT brings You?

NFT is just some online text...

Technically it is a smart contract or you can even call it a deed, basically an online text file that is pointing to a media elsewhere. Like a deed that says whoever owns this paper has a property in xxx.

But what you "own" is that file in your account in a blockchain, like a safe deposit box in the bank, and anyone with the key can access to it.

Or like an online document where you can only edit certain areas, you can also transfer the rights to someone else and thus remove yourself from it. Or you can buy from another user the rights to another column or row.

In the hypothetical scenario, a natural disaster destroyed the property in xxx. You still have the deed (NFT)...