FAMILY THAT IS AN NFT
An NFT (short for Non-Fungible Token) is a type of unique digital asset that uses blockchain technology to certify its authenticity and ownership. Unlike cryptocurrencies like Bitcoin or Ethereum (which are fungible, meaning they can be exchanged for one another), an NFT is unique and irreplaceable.
Key features of NFTs:
Non-fungible: They cannot be exchanged directly like, for example, 1 BTC for another 1 BTC. Each NFT has unique value and characteristics.
Based on blockchain: Usually on Ethereum, although they also exist on other blockchains.
Verifiable ownership: The ownership of an NFT can be publicly verified on the blockchain.
Common uses:
Digital art
Music
Collectibles (like digital cards)
Video games (skins, characters, land)
Digital certificates and event tickets
Example:
Buying an NFT of a digital artwork is like having a digital certificate that says you are the owner of that piece, even though anyone can view it online. What has value is the proof of ownership.
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