What is a NFT?

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NFTs are unique assets that are registered in a cryptocurrency database(blockchain).

NFT: Non Fungible Token

‘non fungible’ = unique/one of a kind. A signed baseball is ‘non fungible’. A new baseball is fungible; it is identical to the other new baseballs.

A token is an unit of value. A crypto coin(Bitcoin,Ethereum) is a fungible token, just like a penny is fungible. A NFT digital asset is a 1:1 token that has a unique ID.

NFTs are part of the cryptocurrency system. NFTs only exist on a blockchain(secure encryption database).

Common uses for NFTs include:






NFT buzzwords: rare, scarce, unique

What can be a NFT?

What is an art NFT?

More Reading:

What is the difference between a token, a coin, and cryptocurrency?

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