Cryptocurrency Q&A
What is a non-fungible token (NFT)?
What is a non-fungible token (NFT)?
Nicola
Sat Nov 23 2024
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7 answers
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A non-fungible token (NFT) is a unique digital asset representing ownership of a digital or physical item. Unlike fungible tokens like Bitcoin, which are interchangeable, each NFT is one-of-a-kind and cannot be replicated or exchanged for another. They are stored on a blockchain, providing a tamper-proof record of ownership and authenticity. NFTs are commonly used for digital art, collectibles, and in-game assets, allowing creators and owners to buy, sell, and trade these items securely.
7 answers
Elena
Mon Nov 25 2024
An NFT, short for non-fungible token, holds a distinct position in the digital realm.
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IncheonBlues
Mon Nov 25 2024
It serves as a unique digital token capable of transforming various digital items into collectible assets.
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alexander_clark_designer
Mon Nov 25 2024
These items can range from simple tweets and Gifs to intricate videos.
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KDramaLegendaryStarlightFestival
Sun Nov 24 2024
The essence of an NFT lies in its uniqueness, setting it apart from other digital tokens.
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Margherita
Sun Nov 24 2024
Buyers and sellers engage in transactions involving NFTs through the blockchain.
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