NFT (Non-Fungible Token)
An NFT (Non-Fungible Token) is unique because of the following characteristics. . . .
Token ID: Each NFT has a unique identifier on the blockchain that distinguishes it from all other tokens. No two NFTs share the same token ID on a given contract.
Metadata: NFTs have associated metadata (like title, description, image URL, attributes, etc.) that describes the asset and often links to external content such as digital art, music, or files.
Provenance: The blockchain records the entire ownership history of the NFT, allowing anyone to verify who created it, who has owned it, and when it changed hands.
Smart Contract Logic: The NFT is governed by a smart contract that can include unique logic or rules (like royalties for the original creator on resales), which adds to its distinctiveness.
Scarcity and Rarity: Creators can choose to mint only one or a limited number of NFTs of a given asset, and may also define rare traits, especially in collectible series, increasing uniqueness.
Non-interchangeability: Unlike fungible tokens (like cryptocurrencies), NFTs are not interchangeable on a 1-to-1 basis—each has its own value based on its attributes, ownership, and demand.
In essence, the uniqueness of an NFT is a combination of its digital fingerprint (ID + metadata), its history, and the cryptographic guarantees of the blockchain it's built on.
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