Relationship Between Ethereum And NFTs
Ethereum is the most widely used blockchain platform for the creation and trading of non-fungible tokens (NFTs). NFTs have become increasingly popular in recent years, with the market for NFTs reaching over $2 billion in the first quarter of 2021. Ethereum's smart contract functionality, security, and community make it the ideal platform for NFTs. In this article, we'll explore why Ethereum is paramount for NFTs.
Smart Contract Functionality
Ethereum's smart contract functionality is one of the key reasons why it is the preferred platform for NFTs. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts on Ethereum allow developers to create NFTs that are programmable, meaning they ca...