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.

ART NFT EXPERT 89BA0D41-3ACC-4311-A405-99A4EA023519-1024x437 What is a NFT?
ART NFT EXPERT  What is a NFT?

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:

art https://opensea.io/collection/beeple-everydays

collectibles https://nbatopshot.com/

gaming https://axieinfinity.com/

utilities https://veefriends.com/

investing https://dclblogger.com/

NFT buzzwords: rare, scarce, unique

What can be a NFT?

What is an art NFT?

More Reading:

https://hedera.com/learning/what-is-a-non-fungible-token-nft

https://ethereum.org/en/nft/

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

https://medium.com/unstoppabledomains/what-is-the-difference-between-tokens-and-coins-8ab0b605b8d0

https://coinrivet.com/guides/guide/why-is-a-token-different-to-a-cryptocurrency/

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