On-chain NFTs are non-fungible tokens that are fully recorded on a blockchain. This means all relevant information about the NFT, including its ownership, metadata, and history, is stored directly on the blockchain itself.By being on-chain, these NFTs ensure greater transparency and security. Anyone can verify ownership and authenticity without relying on a central authority. This reduces the risk of fraud and makes it easier to track the provenance of digital assets.In contrast, some NFTs store metadata off-chain, which can create vulnerabilities. If the external data source goes down or is altered, the NFT could lose its value or be compromised. On-chain NFTs eliminate this concern by keeping everything within the blockchain ecosystem.Overall, the strength of on-chain NFTs lies in their permanence and the trust that comes from being part of an immutable ledger, making them a popular choice among creators and collectors.
Bit Digital Acquires 31,057 ETH Through $150M Convertible Notes Offering
Bit Digital Inc. (Nasdaq: BTBT) has purchased 31,057 Ether (ETH) using proceeds from its recently completed $150 million convertible notes