Thursday, February 9, 2023

Non-Fungible Tokens (NFTs)

 How Are NFT's Created?


Amazon Web Services


A non-fungible token is created by an artist, creator, or license-holder through a process called minting. Minting is a process that involves signing a blockchain transaction that outlines the fundamental token details, which is then broadcasted to the blockchain to trigger a smart contract function which creates the token and assigns it to its owner.


Under the hood, a non-fungible token consists of a unique token identifier, or token ID, which is mapped to an owner identifier and stored inside a smart contract. When the owner of a given token ID wishes to transfer it to another user, it is easy to verify ownership and reassign the token to a new owner.

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