How NFTs Work
Let's start by reviewing how NFTs, or nonfungible tokens, work.
Typically, there are 3 important components to any NFT:
- Smart Contract - How is the NFT stored on the blockchain?
- Metadata - Links to multimedia assets associated with this NFT, plus any attributes/traits.
- Multimedia Assets - The multimedia asset files (images, videos, etc) referenced by the NFT metadata.
Let's look at each of these in more detail.