The Concept and Technicalities of NFTs

Andrea Sestino (), Gianluigi Guido () and Alessandro M. Peluso ()
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Andrea Sestino: University of Bari Aldo Moro
Gianluigi Guido: University of Salento
Alessandro M. Peluso: University of Salento

Chapter Chapter 2 in Non-Fungible Tokens (NFTs), 2022, pp 11-22 from Springer

Abstract: Abstract This chapter conceptualizes NFTs, describes their creation process, and illustrates their main characteristics (i.e., unicity, indivisibility, and scarcity), which differentiate them from Fungible Tokens (e.g., cryptocurrencies). It presents the technical aspects of NFTs and the main technology behind them, the so-called Blockchain, which essentially consists of a set of software applications that allow data storage in a transparent, decentralized, immutable ways.

Keywords: NFTs’ definition; Fungible Tokens (FTs); Blockchain technology (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-07203-1_2

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DOI: 10.1007/978-3-031-07203-1_2

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