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What is an NFT? | Help Center – Galxe

NFT Galxe (GAL)

Have questions about non-fungible tokens? Read this to learn more about NFTs and Galxe.

Written by Zeno
Updated over a week ago
Table of contents

What is an NFT?

NFT is an acronym that stands for Non-Fungible Token

It’s a type of digital asset created using blockchain technology.

Blockchains keep track of NFTs, and Smart Contracts power them.

Non-fungible tokens get designed under specific standards, and each NFT represents unique digital assets.

ℹ️ The two most common types of NFTs use these standards:

ERC-721: Single token standard, basic functionality: track & transfer
ERC-1155: Multi-token Standard, each token ID can get configured by type

ERC-721 represents single unique assets, also known as 1/1’s, and ERC-1155 allows for creating multiple ‘editions‘ of an NFT.

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