2025-08-30
From the digital artwork Every Day: The First 5000 Days, which sold for $69.34 million, to virtual land auctioning for sky-high prices in the meta-universe, non-fungible tokens (NFTs) have attracted global attention. Why do these seemingly virtual digital products have such high value? What exactly is an NFT? What technical principles does it rely on to gain a foothold in the digital world?
NFT is the abbreviation of Non-Fungible Token, which means non-homogeneous token in Chinese. Unlike Bitcoin, Ethereum and other homogeneous tokens, each NFT has unique, inseparable and irreplaceable characteristics. Homogeneous tokens are like real currencies, each unit has the same value and can be exchanged, while NFTs are like a unique work of art, whose value depends on its own scarcity, uniqueness and market recognition. NFT publishes based on blockchain technology, and records the ownership and relevant information of digital assets on the blockchain through smart contracts to form an immutable digital certificate, ensuring the authenticity and uniqueness of digital assets, and enabling digital content to have a "digital ID card".
Technology Implementation of NFTs relies on blockchain's distributed ledger, encryption algorithms, and smart contracts. When a creator makes a digital work into an NFT, the system generates a unique hash value, which is recorded on the blockchain along with the work information, creator information, etc., forming an immutable digital fingerprint. At the same time, NFT transactions and transactions are also recorded through the blockchain, and every ownership transfer is clearly recorded on the chain, allowing anyone to trace their historical transaction records. For example, on the Ethereum blockchain, standard protocols such as ERC-721 and ERC-1155 provide specifications for the creation, transaction, and management of NFTs. HashKey Exchange strictly follows these technical standards when providing NFT trading services to protect the rights and interests of users of digital assets.
The application scenarios of NFTs are very wide. In the field of art, artists can sell their works in the form of NFTs, directly establish contact with collectors, avoid middlemen price difference, and protect the copyright and traceability of their works; in the game industry, Game Props, character skins, etc. can be made into NFTs, and players have real ownership of digital assets, and can circulate and trade between different games; in the meta-universe, virtual land, buildings, etc. are also confirmed and traded through NFTs. HashKey Exchange Actively layout the NFT market, provide users with a wealth of digital art collections and meta-universe related NFT trading services, and help users explore the diverse value of digital assets. With the development of technology, NFTs will also play a role in music, film and television, sports and other fields, reshaping the digital economy.
What is HashKey Exchange?
HashKey Exchange is one of the first regulated cryptocurrency exchanges in Hong Kong to obtain a license from the Securities and Futures Commission (SFC). It supports fiat currency deposits and trading in Hong Kong dollars (HKD) and US dollars (USD), offering users spot trading services for mainstream digital assets including Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The platform also provides OTC (over-the-counter) services to meet the needs of large-value asset transactions and fiat currency conversion, ensuring more flexible and private trading. To cater to the asset allocation needs of different investors, HashKey has launched the HashKey Earn channel, offering users fixed-term and demand financial products to achieve stable appreciation of crypto assets. The platform holds ISO 27001 and 27701 security certifications, employs a 98% cold wallet storage mechanism, and incorporates security measures such as two-factor authentication to provide users with a stable and reliable trading environment.
Download link: https://www.hashkey.com/en-US/download
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