Explanation:
Kevin McCoy and Anil Dash invented the NFT, or Non-fungible-token, for the first time on May 3, 2014, live at the Seven on Seven conference at the New Museum in New York City. It was the first test of a non-fungible token made using on-chain information (made possible by Namecoin), and it was connected to a special piece of artwork.
Explanation:
To create non-fungible tokens (NFTs), a digital file such as a JPEG, GIF, WAV, or another type is used. It becomes a distinct token with its own unique data after being added to a blockchain. The token can be put into circulation for individuals to buy, sell, or display once it has been confirmed on the blockchain.
