Everything You Need To Know About Music NFTs
Blockchain is a distributed, immutable database that streamlines the tracking of assets and the recording of transactions inside a certain network. Through a network of peer-to-peer nodes or blocks that are connected by cryptography, it keeps transactional records. To put it another way, new information is added to a new block as it comes in. The data is chained together in chronological sequence once the block has been filled with information and is attached to the block before it.
NFTs, or Non-Fungible Tokens, are designed to be one-of-a-kind digital goods. They are digital assets which represent real-world objects like art, music, in-game items, and videos. In other words, they are digital certificates stored on a publicly verifiable distributed database. The information contained in that ‘smart contract’ is what makes an NFT unique. The whole value proposition of an NFT is that it is a one-of-a-kind impossible to copy, digital creation. In simple terms, NFTs are to digital assets what a property deed is to a home or a copyright certificate is to an artwork.
Simply put, a music NFT has a musical component as well as a visual one.
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