What are "NULL FUNGIBLE TOKENS" (NFTs)
A null-fungible token (NFT) is a special type of cryptographic token which represents something of null (absolutely zero) value.
The NFT (usually a non-tangible item on the internet like a digital image or video clip) is given an inexplicably high rate of value. It is then resold on the
schlockchain in a short turn-around time at a re-sale rate that is usually multiple times more than the price originally paid for it.
The first NFTs were digital pictures depicting fungi variants (
"Fun Fungi"). Other NFTs have emerged in recent years, most notably
"CrypticKitties",
"Monster Mash" on the
Efeareum schlockchain, and latest new-comer
"TakaLeek NFT" on the
Allium schlockchain.