ARTICLE · 04 MAY 2022

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What Is A Nft, And Is This Even Legal ?

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We find ourselves in a digital age where information is being shared rapidly. This, coupled with the rising number of new technological advances and the emergence of cryptocurrency and Blockchain...

South AfricaTechnology

Cheralco Worship

We find ourselves in a digital age where information is being shared rapidly. This, coupled with the rising number of new technological advances and the emergence of cryptocurrency and Blockchain, can be challenging to keep up with the latest trends, inventions and how all of this is regulated.

A popular development that has been receiving a lot of attention lately is NFTs. Although all of this can be exciting, it can also be very overwhelming when you are unsure what it is and how it can affect you.

What is an NFT?

The abbreviation NFT stands for Non-Fungible Token. Firstly, to understand what a Non-Fungible Token is, we need to unpack what are Fungible and Non-Fungible items. An example of a Fungible item is a hundred rand note. This is something that is not unique, its previous owners are not relevant, and it has the same value as another hundred note. The hundred rand note has the same value as 10 ten rand notes or two fifty rand notes.

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