NFTs - Exploring Infrastructure, Usability, Role in DeFi, And Questions About Ownership

Non Fungible Tokens are a token standard on the blockchain. NFTs are a data structure (token) which links metadata files which may be pinned to an image or file. This token is uploaded and modified to meet the requirements of blockchain networks like Ethereum, Kusama, Flow or others. The NFT is gaining traction on financial markets, creating new utilisation of those tokens. This article is a walkthrough of the NFT Standard, NFT characteristic traits and explanations. The key concepts lie in the ERC-721 and ERC 1155 standard which both have the ability to give a record of ownership.