How does tokenization work in PFP NFT minting?

Tokenization in PFP (Profile Picture) NFT (Non-Fungible Token) minting involves the process of converting unique artwork or images into digital tokens that can be owned, traded, and tracked on a blockchain. The tokenization process begins by creating a digital representation of the artwork, often a high-resolution image, which is then assigned a unique token ID. This token ID is stored on the blockchain, ensuring its authenticity and immutability. The metadata associated with the token, such as the artist's name or additional details about the artwork, is also stored alongside the token ID. These tokens can then be bought, sold, and transferred by individuals within the NFT marketplace, enabling them to own a verifiable and scarce virtual representation of the original artwork.

This mind map was published on 15 August 2023 and has been viewed 91 times.