An NFT (Non-Fungible Token) is a type of digital asset that represents ownership or proof of authenticity for a unique item or piece of content, stored on a blockchain.....
Key Features:
Non-fungible: Unlike cryptocurrencies (e.g., 1 BTC = 1 BTC), each NFT is unique and cannot be exchanged on a one-to-one basis with another.
Blockchain-based: NFTs are built and stored on blockchain platforms like Ethereum, which ensures transparency, security, and immutability.
Digital Ownership: They provide a way to own and trade digital items like art, music, videos, virtual real estate, collectibles, and more.
Metadata and Provenance: NFTs contain metadata (e.g., creator, date, attributes) and a record of ownership history, making it easy to verify authenticity and origin.
Examples:
A digital artwork sold as an NFT.
A rare in-game item in a video game.
A music file or album with proof of original ownership.
Virtual land in a metaverse platform.
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