What is NFT basically

[Wendell_1]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?

[Maus0728]

NFT is basically a digital signature or certificate of jpegs (pictures) to justify that you really own those digital goods. 
 
And the reason it is so expensive is that the majority of people believe NFT as a speculative asset with a limited number of copies or that is distinguishable from the others. Thus, they believe that their value will increase over time which they can flip or sell to at higher price to gain profit.

Some people buy/mint NFT to have a bragging right. Others buy it to support their favourite artist, or perhaps, they are simply amazed with the aesthetics NFT has to offer.

[Reid]

There are different types but mostly in reference with arts.
Photos, videos or clips, and even audios. One example just to give you an idea is collecting NBA cards, Baseball cards, Comics, etc.. That was the old school version of it.
Because only a few of them were made, as long as it is mint and have unique item number they became valuable.
Now do that on a modern version, JPeg versions of NBA cards, clips of baseball winning hits and so on. The same goes with modern arts.

[ardydyon]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?

NFT (non-Fungible Token) is part of the blockchain, unique and non-transferable with others. Anyone can print it and can even make it almost exactly like the real thing. However, it will be different in the eyes of a collector. This is what distinguishes other cryptocurrencies that are included in the blockchain system.
The relationship with the token is as a means to make a purchase or sale transaction of an NFT using the token in question
NFT gives a new color to the blockchain world which certainly makes it more interesting.

[makishart]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it?

Basically NFT was a non fungible token that was representing as a proof of owner for the digital collectible or asset. As long as you have owned this NFT and you will be able to claim it as an owner for your NFT.

What is the relationship between it and the project token?

The project used NFT as a proof of ownership for any assets that will be issued by the company. This is not something new and i think that anyone know this so well. The company was using NFT to be integrated with its platform. that's why some platforms are calling NFT as a part of its ecossytem. This caused by people can own the NFT that issued by the company

[avikz]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?

NFT is mainly a digital proof of ownership signed and secured by blockchain. But whatever you see in the market, are mainly a hoax. It's a great playground for money launderers and a great way to convert black money into white.

If you have a jpg image in your computer, you can convert it into a NFT through signing a digital ownership contract in either ETH or polygon blockchain. Then you can sell it for a ridiculously high price if you can attract the chickens from the market. 

You can visit the oldest NFT platform called opensea to see for yourself. It also offers free trainings on NFT.

[RocketSingh]

Imagine digital art, for which you can cryptographically prove ownership. That is NFT to be precise. The real value is in the art form and the ability of one to be an unique owner of it.

[bitzizzix]

NFT is a Non-Exchangeable Token, NFT is a crypto asset that has a unique footprint on the blockchain and differs from coins like Bitcoin in the fact that NFT is indistinguishable from other NFTs.
Each NFT is completely unique and this is the main attraction of this non-exchangeable token. For example, digital artists can now sell truly unique art and drawings in the same way that real-world paintings can be sold.

[wxa7115]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?

To begin with you need to understand what Fungible even means, fungibility is the property of an object to be exchanged or replaced by another one of the same class with both of them retaining the same properties, for example you can exchange one dollar bill for another dollar bill regardless of the conditions in which they are and they still have the same purchasing power, by the way most forms of money need to be fungible in order to work.

Following the same example there are one dollar bills that have some misprints and since each one of those mistakes is unique they have value outside their face value, which makes them more valuable but no longer fungible, non-fungible tokens fall into this category, each one is unique and their value depends on what people think each one is worth it, which is why there can be some NFTs which are worth millions while other similar ones are worth nothing.

[bitkanu]

NFT is like a representative tokens that are being made for unique items and arts.
if you frequently seeing them having some kind of difference in terms of price compared with the gaming projects main altcoins then it’s because each NFT is really different compared with each other,
it’s unlike money that are being generated the same, even that NFT could varies, like the ones in axie infinity, there are AXIES NFT that are valued quite low and then there is an NFT of the game characters that could be valued at really high valuation
so its depends with the project itself. This token can be used for the various purpose. You can also try to get more explanation from your search engine.

[jrrsparkles]

NFT is a Non-Exchangeable Token, NFT is a crypto asset that has a unique footprint on the blockchain and differs from coins like Bitcoin in the fact that NFT is indistinguishable from other NFTs.

NFT stands for Non Fungible Tokens which means every token is unique and have its own identity as you mentioned but there is no difference when it comes to valuation every asset hold the price based on demand and supply but NFT mainly sold for high prices because of craze and buzz among the upcoming investors.

[Fundamentals Of]

The term NFT is now widely scattered mainly because of scammers and opportunists. As others have already pointed out, NFTs are merely tokens. What makes these tokens different from other tokens is that they are non-fungible, meaning they are unique from each other, so that you cannot simply exchange one NFT to another as though they are exactly the same like Bitcoin or Ethereum.

Be careful with buying pictures or art pieces with NFTs. Almost all of them are overpriced.

[cryptoaddictchie]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?

On uniswap? Maybe a name of token associated with nft word cause nft means non fungible tokens which arent tradeable on uniswap. Its like working with an auction style and some platform have direct sell feature.  Sometime tokens and the nft can be used on such use case of the project like combine staking or etc.

[btc_angela]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?

Maybe this could help you out:

https://cointelegraph.com/explained/non-fungible-tokens-explained
https://cointelegraph.com/magazine/nonfungible-tokens/#/

And @zasad@ thread here:
https://bitcointalk.org/index.php?topic=5274952

This is the widely used marketplace:
https://opensea.io/

The price is basically what the artist wanted others to pay, and sometimes it will go into auction that's why the price keeps going up.

[MarjorieZimmermanGinger]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?

What I know is that NFT has two of your projects, works of art and games, and both offer different prices, because the nature of NFT is very different from the development of existing coins, NFT began to be known at the end of 2021, where there were several NFT projects that broke through beyond expectations. observers, even for the NFT game community, it is very large for now, because NFT games can provide financial benefits for those who participate in playing

[Sayeds56]

I've been noticing the term NFT in various projects on uniswap, but I'm not sure what it means. There's a price for NFT that's almost certainly higher than the token price. So, what exactly is it? What is the relationship between it and the project token?

NFT (Non-fungible token ) is not just a piece of art or used for online games it is an emerging technology and has Multiple  of use cases from Physical identity or or even intangible concepts  like  intellectual property too, it can be used in Real estate, Medical, Education , Supply chain and many many more Industries . This sector has recorded tremendous growth during 2021 and its trading volume only on opensea.io is around 3 Billion dollars/month.

[husdemba]

NFT projects have been very popular lately. There are various studies on this and I think the NFT craze will end one day. The final decision is yours, but I think NFT projects are mostly fraudulent 

[wxa7115]

NFT projects have been very popular lately. There are various studies on this and I think the NFT craze will end one day. The final decision is yours, but I think NFT projects are mostly fraudulent 

There is a significant amount of evidence that shows the market of NFTs has been silently crashing for a while, after all unlike traditional cryptocurrencies which are fungible and in which we can clearly see the volume of each coin and we are able to tell if the coin is experimenting a crash not only by the decrease on its price but by the decrease on its volume.

However with NFTs this is more difficult as each one of them is unique which means that someone could be selling a NFT for 20k and not change their price at all as they want to at least breakeven, but if there is no one willing to buy at that price you cannot see this in the volume of this particular NFT and as such the person believes there is still a lot of people interested in buying their NFT when this is not the case anymore, in a way this is similar to what we see in the real estate market, with the exception that things are much worse in the NFT market.

[lobo13hf]

NFT was a token. This token is ERC721 form that used differently than ERC20. NFT token used for the tokenization of unique code as a proof of ownership for the NFT asset that being minted as NFT. When this asset minted as NFT and then you will be getting a token as a proof of ownership. You are owning the token means you are the owner of the asset. Basically, this is the same like an ownership.
The simple thing is if NFT used by so many platforms as the token owners. NFT is still getting big hype right now but i doubt this can sustain for the long term.
You can also find so many explanations by various legit sources

[BlockchainMentors]

NFTs or Non Fungible tokens are kind of data stored in the blockchain, it can be in different forms like images, videos, audio clips, and much more. To store them in the blockchain, one has to mint them(convert) from digital files to digital assets available on the blockchain. They can be traded too. Almost everything can be converted into a NFT like soccer match tickets, in-game weapons/accessories or clips of youtube videos and so much more. To explore some NFTs take a look at some of the websites like opensea or foundation!

Hope it helps!