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  • Introduction
  • Project Overview
    • Backgrounds
    • Our Token
    • Roadmap
  • LESLARverse
    • The Genesis
    • The 4 Factions
      • The Royalist
      • The Metastreet
      • The Militech
      • The Rebels
    • The Royalist Hall
      • Voting - Decentralized Autonomous Organization (DAO)
      • Trending News
      • Token Staking
    • Play - Rebels Arcade
      • Classic and Competitive
      • Player Vs Player Game Tournament
      • Mini Games
    • Shop and Earn - The Metastreet District
      • A Gateway to The Open World
      • The Metastreet Plaza (NFT Marketplace)
      • The Metastreet Exhibition Hall (NFT Mint)
      • Merch and Action Figure
      • Land NFT
    • Learn - Militech Academy
      • Watch-to-Earn
      • Education and Entertainment
  • Community
    • From Community to Community
  • Support
    • Full Support from The Government
    • Part of The Indonesia Crypto Consumer Association (ICCA)
    • Support from Entrepreneurs and Celebrities
  • User Guide
    • Basic Terms
      • What Is Metaverse?
      • What Is DAO?
      • What Is DeFi?
      • What Is GameFi?
      • What Is NFT?
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  1. User Guide
  2. Basic Terms

What Is NFT?

NFT is a form of digital asset on top of the blockchain.

If a crypto token is more like a means of payment, then an NFT is more like a work of art whose value is indefinite, because its value is determined by many factors, such as the form and function of the NFT itself.

3 Minute Understanding

NFT stands for “non-fungible” token, which means it cannot be replaced or exchanged because it has a unique property called Meta Data.

NFT is a very different thing compared to physical money and “worth it” cryptocurrencies, meaning they are the same value.

There are two types of NFT:

  1. Multi Tokens NFT

  2. Limited Edition NFT or Series NFT

Multi NFT tokens generate multiple NFTs in one printing process. The amount of how many NFTs are created in a single print depends on the smart contract of each multi token NFT project.

It could be 3 , 5, 10, or even a hundred NFT.

Limited Edition NFT or NFT Series means there is an NFT themed series where only one NFT is generated in a single printing process.

NFT can be used as entry tickets to join Play-to-Earn games, items (weapons or skins) to use in games, staked to earn rewards and redeem tickets (hotels, restaurants, trips, or concerts)

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Last updated 3 years ago