What are NFTs?

NFTs (Non-Fungible Tokens) are digital items that exist on things called "Blockchains". NFTs have the unique property that they can be owned by any one persons wallet. And anyone in the world is able to verify and see who is listed as the owner of a specific digital asset.

Popular applications include using NFT's for Art, for access passes, and membership passes. There are many applications of NFTs across many applications from gaming to finance.

What is an NFT Collection?

An NFT collection is a group of NFTs which are related. Such as a set of membership passes, or related pieces of ArtWork. An example of an NFT collections is the popular "Bored Ape Yacht Club" NFT collection. Anyone who owns own is granted access to an exclusive community and receives regular perks and rewards.

If I own an NFT, do I own the ART?

That depends. The NFT specifies an owner, who is then able to perform different actions based on the NFT. It can mean that you own the intellectual property to the NFT, but this depends on the license used by the creator of the collection.