What are NFT's in Crypto? (Non-Fungible Tokens!) – Beginner's Guide



This is a simple explanation of what NFT’s, or Non-Fungible Tokens, are in cryptocurrency and blockchain technology for beginners.

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======== TABLE OF CONTENTS ========

00:00 – Introduction
00:36 – 3 Key Concepts to Understand NFT’s Better
01:06 – Subjective vs Objective Value
04:29 – What is a Market?
06:06 – Fungible vs Non-Fungible Assets
08:21 – Definition of Tokens
09:22 – What is Blockchain?
09:45 – Decentralization
10:49 – Transparency
11:58 – Immutability
12:39 – What is An NFT, or Non-Fungible Token?
14:37 – NFT’s Available on OpenSea.io NFT Marketplace
12:50 – Unstoppable Domains NFT”s
16:45 – Standardization
18:31 – ERC-721 Standard
20:20 – ERC-998
21:09 – ERC-1155
22:45 – Tradeability
23:34 – Liquidity
24:45 – Immuteability
25:15 – Programmability
25:35 – How NFT’s Could be Used in the Future
28:20 – Current Cons of NFT’s
29:52 – Outro

======== VIDEO SUMMARY ========

This is a video guide for beginners all about NFT’s or Non-Fungible Tokens.

We will discuss what NFT’s are, how they are created, how they are being used now, and how they can be used in the future.

A non-fungible token is simply a representation of a unique digital asset that cannot be equally swapped or traded for another NFT of the same type.

So non-fungible tokens can represent digital art, a ticket to an event, an in-game item, virtual property in a virtual world, or even a real-world asset like a deed or title to actual land in the physical world.

Blockchain adds unique properties to digital assets by giving people ownership, management permissions, and transferability on a decentralized, transparent, and immutable platform.

Blockchain technology provides a coordination layer that will impart 6 key properties onto digital assets, all predicated on immutability which are: standardization, interoperability, tradeability, liquidity, immutability, & programmability.

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47 thoughts on “What are NFT's in Crypto? (Non-Fungible Tokens!) – Beginner's Guide

  • January 12, 2022 at 9:58 pm
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    Baseball is America’s past time how does the history not have any value especially paper from that era. Almost cost you a like πŸ‘πŸ½

    Reply
  • January 12, 2022 at 9:58 pm
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    Thanks for speaking in plain English

    Reply
  • January 12, 2022 at 9:58 pm
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    Thanks indeed, πŸ‘πŸ‘πŸ‘πŸ‘πŸŒΉ

    Reply
  • January 12, 2022 at 9:58 pm
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    i missed half of what you said because i can't stop looking at that PC you need to tell me more about it!!!

    Reply
  • January 12, 2022 at 9:58 pm
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    In my opinion, NFT for the gaming industry could have far-reaching but mostly negative consequences. Just like the plague of micropayments, they will lead to the deepening of the trend which is the creation of games that are only an enclosure for the business model of selling another product. Games should be first and foremost a work of culture focused on selling the work and stories contained therein, not on creating cookie-cutter business models.

    Reply
  • January 12, 2022 at 9:58 pm
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    Thank you Casey!

    Reply
  • January 12, 2022 at 9:58 pm
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    Wow! Thank you for these explanations! I game a little so that was fun to hear, too.

    Reply
  • January 12, 2022 at 9:58 pm
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    This is the best explanation of NFTs I've seen. As simple as that: The best.

    Reply
  • January 12, 2022 at 9:58 pm
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    thanks,thanks,thanks

    Reply
  • January 12, 2022 at 9:58 pm
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    I couldn't resist commenting this. There's got to be other people thinking this as well!
    Crypto Casey is more advanced, smarter, younger version of Winona Ryder, right? RIGHT?

    Reply
  • January 12, 2022 at 9:58 pm
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    I'm a lifelong artist and musician who's gone mostly undiscovered. Can I use this to create a brand?

    Reply
  • January 12, 2022 at 9:58 pm
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    That PC is noice!

    Reply
  • January 12, 2022 at 9:58 pm
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    Ever heard of a Tangible NFT? Where, let's say, an image is printed and a chip added to the print to verify it's a "one of" So you get the NFT along with a chipped print?

    Reply
  • January 12, 2022 at 9:58 pm
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    Clarity, brevity, excellence! Thank you!

    Reply
  • January 12, 2022 at 9:58 pm
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    You are one mega smart cutie Casey !!!

    Reply
  • January 12, 2022 at 9:58 pm
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    You are awesome! Crystal clear method of educating and explaining such a difficult of cryptocurrency and NFTs.
    As we say in French CHAPEAU !πŸ™πŸ™πŸ™πŸ™

    Reply
  • January 12, 2022 at 9:58 pm
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    Hahaha, β€œI fucks with football”- Cyrpto Casey

    Reply
  • January 12, 2022 at 9:58 pm
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    Relieve yourself from the hassle of scripting NFT descriptions for your NFTs, or even writing any word on your website… you'll agree writing is hard.

    I can help communicate your ideas and desires easily for as low as the price of a coffee at Starbucks.

    You don't even need to commit if you don't like the copy … stop snoozing

    Reply
  • January 12, 2022 at 9:58 pm
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    One of the greatest YouTube Videos ever. Thanks!

    Reply
  • January 12, 2022 at 9:58 pm
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    β€œNice”

    Reply
  • January 12, 2022 at 9:58 pm
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    It's like the boy or kid they locked in closet every time the Sun showed up obviously the boy missed out on Sun so what could he do today find value elsewhere

    Reply
  • January 12, 2022 at 9:58 pm
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    Loved this video, you make it sound so easy! You are awesome! 😍😍

    Reply
  • January 12, 2022 at 9:58 pm
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    Your baseball – watching paint dry analogy is hilariously accurate πŸ˜‚β€¦.. I feel the same way about hockey

    Reply
  • January 12, 2022 at 9:58 pm
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    Amazing video thank you so much. Very informative and clearly laid out. I'm just getting into this space and now have a clear idea of it all. Would love to connect sometime!

    Reply
  • January 12, 2022 at 9:58 pm
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    She got to be an INTJ. Explained and simplified to fit my mentality. Much praise. πŸ‘πŸΌ

    Reply
  • January 12, 2022 at 9:58 pm
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    Hi Casey can you make a video on how to buy or sell NFT and which is the best and safe platform to use for NFT. Thanks.

    Reply
  • January 12, 2022 at 9:58 pm
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    You are so thorough and smart in Crypto business. I love your videos. I like the way you organize your thoughts and the way you speak.

    Reply
  • January 12, 2022 at 9:58 pm
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    Do you normaly wear your hair in a ponytale.?

    Reply
  • January 12, 2022 at 9:58 pm
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    The best explanation of NFTs..Great job!

    Reply
  • January 12, 2022 at 9:58 pm
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    Wow! Great video! You are good at teaching. For the first time I really could understand blockchain. Thank you for the video! πŸ™πŸ»

    Reply
  • January 12, 2022 at 9:58 pm
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    awesome presentation thank you

    Reply
  • January 12, 2022 at 9:58 pm
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    I like how you Explain NFT's its very clear. What a great presentation, Have you ever heard about OGL? I am a gamer and It seems like their project is awesome.

    Reply
  • January 12, 2022 at 9:58 pm
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    Looking for a Matrix hookup to download your brain now.

    Reply
  • January 12, 2022 at 9:58 pm
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    Love the fact that these videos have a high record volume. Not everyone is at home watching or can use earbuds to listen at work. πŸ‘πŸ‘πŸ’š

    Reply
  • January 12, 2022 at 9:58 pm
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    Are you offering one on one online training?

    Reply
  • January 12, 2022 at 9:58 pm
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    Thank you so much for this info. I watched all 30 mins. Straight to point and very informative πŸ’ͺ🏾

    Reply
  • January 12, 2022 at 9:58 pm
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    Casey you teach very well!😊 May God Bless you!πŸŽˆπŸ’―πŸ’ƒ Where do you find the Crypto Kitties?

    Reply
  • January 12, 2022 at 9:58 pm
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    OMG IM IN LOVE…. you just SMOKED… every guy on here "trying to explain "ANYTHING" you covered 5 of their videos about different subjects in one like BOSS

    Reply
  • January 12, 2022 at 9:58 pm
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    YES.. VERY GOOD DELIVERY!! THE ABSOLUTE BEST IVE SEEN.. BY FAR
    very underated!

    Reply
  • January 12, 2022 at 9:58 pm
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    I instantly became your fan.
    You explain in a way no one does.

    Thank you from Dubai

    Reply
  • January 12, 2022 at 9:58 pm
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    Clear & concise!! Great job!! Keep them coming!

    Reply
  • January 12, 2022 at 9:58 pm
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    everybody please listen to her podcasts also . She have explained blockchain there also.

    Reply
  • January 12, 2022 at 9:58 pm
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    My mind is blown, you explained everything crystal clear!

    Reply
  • January 12, 2022 at 9:58 pm
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    She is so smart…even me that speak 3 languages had no problem understanding this…thanks Casey….

    Reply
  • January 12, 2022 at 9:58 pm
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    Cute n smart 😍😍

    Reply
  • January 12, 2022 at 9:58 pm
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    Thanks for sharing this valuable information. I like everything about your video, including you. However, I have a question. You briefly mentioned about how NFT can be tied back to physical assets. In the case of the pair of socks you mentioned, how do you get the guarantee that the pair of socks will be available until you redeem it? If the NFT for the socks is not redeemed 100 years later, who would be in charge of keeping the socks secured and in good condition until it's redeemed? Who would be held accountable if the socks NFT fail to deliver its promises?

    Reply
  • January 12, 2022 at 9:58 pm
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    13:35 – There are many good reasons why most modern games aren't pay to win. In summary, it only makes the game worse for the majority of players.

    Reply

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