You've probably already heard of blockchain and NFTs, the revolutionary combination that has turned the rules of the game in digital property on their head. But do you really know what they are and how they work? Don't panic, we'll explain everything!

What is blockchain?

Contrary to what many people think, blockchain didn't appear just a few years ago. On the contrary, it will soon be 15 years! In fact, the first blockchain appeared in 2009 with the digital currency - cryptocurrency, Bitcoin. But what is blockchain? Simply put, a blockchain is a transparent, highly secure database that operates without any controlling body. Exchanges are made between individuals, without the intervention of a third party, and can be publicly consulted.

Until now, online file exchange was limited to simple copies. Indeed, when we sent a photo, we kept the original on our disk. Today, thanks to the blockchain, it is possible to transfer ownership of these files.

What is an NFT?

NFTs (Non Fungible Tokens) are non-fungible, cryptographic tokens that enable works distributed on the Internet to be sold thanks to unique, unforgeable digital property titles. These tokens can therefore bear witness to the possession of a good and its authenticity.

The big difference between NFTs and crypto-currencies is that, unlike the latter, NFTs are non-interchangeable and have a unique character. Whereas Bitcoin, for example, is fungible by nature.

Finally, even if it seems obvious to us, it's necessary to point out that NFTs are based on the Ethereum blockchain system and can therefore only be purchased with the virtual currency that depends on this blockchain, i.e. Ether.

What can I buy with NFTs?

The magic of NFTs lies in their ability to transform any digital asset into a unique piece. Whether it's a work of art or any other creation, as soon as someone holds that token, they become its exclusive owner and have the power to resell it at will. The most common forms of NFT are :

digital artworks
pieces of music
GIFs
images
collectibles in games
unique video clips

Top 10 most expensive NFTs

The popularity of NFTs has exploded in recent years. The prices of some of them have reached insane sums reaching several tens of millions of dollars! These prices are strongly influenced by the price of Ether, which reached record highs in 2022 with a price of $5,000 per unit. Here are the top 10 most expensive NFTs: