A BRIEF EXPLANATION OF WALLET AND NFTS

almost 4 years ago

WALLET:

A wallet is a place where we keep our coins, and a wallet is consist of vital part that shouldn’t be disclosed, but be taken care of.
A wallet has a phrase key, the phrase key is used to resetting the wallet. it is like resetting your account, and gaining access to it again, so when you leak your phrase key out your wallet will be reset, and your coins are gone forever.
We have different walled, but the most popular two are:

Trust wallet and
Metamask wallet

WHAT ARE NFTs?

NFTs are tokens, they also work on the blockchain, and they are mainly used to sell physical item in digital world.

If you’re an artist you paint art, and you’re willing to sell those art instead of putting to art in a gallery where people go to see, and buy you will have to create an NFT collect for them where you will sell the soft copy( virtual art) of the hard art ( physical art ) you did, and get an authentic ownership of the art

NFT simply mean non fungible token
That mean it is not exchangeable.
Let's take for example, If you have a car NFT you get to exchange it for a book NFT, so it is basically more like coins but the only difference is that you can’t trade it for another NFT.

I hope this was helpful