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NFTs – Non Fungible Tokens – Explained in Detail

NFTs, or Non-Fungible Tokens, are unique digital assets recorded on a blockchain, a distributed public ledger that verifies ownership and authenticity. Essentially, they function like one-of-a-kind certificates of ownership for digital items. Here’s a breakdown: Key characteristics: Uniqueness: Unlike cryptocurrencies (e.g., Bitcoin), which are interchangeable, each NFT is distinct and cannot be replicated. This grants them rarity and potential value. Blockchain-based: Ownership and transaction history are …

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