Meaning of NFT | Babel Free

Definitions

1. Initialism of Norfolk Island Time.
   Australia, abbreviation, alt-of, initialism
2. Initialism of Nutrient Film Technique.
   abbreviation, alt-of, countable, initialism, uncountable
3. Initialism of neurofibrillary tangle.
   abbreviation, alt-of, countable, initialism, uncountable
4. Initialism of non-functional test.
   abbreviation, alt-of, countable, initialism, uncountable
5. Initialism of non-fungible token.
   abbreviation, alt-of, countable, initialism, uncountable

Examples

“NFTs can be used to represent⟳ ownership of a digital or physical asset; for example, CryptoKitties is an Ethereum game in which each digital collectible kitten is represented with a unique NFT token. NFTs can also be used to represent⟳ a piece of digital art, that is unique and non-fungible.”

“The Winklevii rode the cryptocurrency wave⟳ to the Bloomberg Billionaires Index and are bullish on NFTs. They ask⟳ why collecting digital art should be any different from collecting rare baseball cards.”

““Everydays” was the first purely digital NFT sold by Christie’s, and it offered to accept⟳ payment in Ethereum, another first for the 255-year-old auction house.”

“Luckily, MSNBC reported in May that NFTs are in low demand⟳ and high supply⟳, which means the entire non-fungible market is non-fungibly funged up.”

“To detractors, Rosanna McLaughlin wrote in the Guardian, the makers of NFTs were “morally bankrupt, environmentally vandalistic money-grabbers whose creations barely qualify⟳ as art”, a view⟳ shared by Beeple himself who described the work⟳ as “a big pile of ass-shit”. […]“Prices, not ideas, dominate.” This meant that when the bubble burst⟳—it was reported in 2023 that 95% of NFTs were worthless—nothing at all remained.”

CEFR level