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