What is an NFT for Movie Fans

Few friends reached out asking what’s NFT and a very high-level idea on what it can be used for.

Here’s a short answer I have been giving to friends.

NFT is a collectible — like an autographed poster of a famous movie — the difference being the ownership being easily verifiable.

You have to buy it with Ethereum — sometimes there won’t be any price for NFT — but we need to pay a gas fee which is $60–100+ now to acquire it.

NFT means it’s a unique piece of art stored in your wallet if you mint it or someone transfers it.

How do I use it?

The same can be used on applications that support it to get benefits — may be to get a selfie with the cast, they could verify the ownership of NFT!

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