AlondraCrypto
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🔸Let me explain in a more casual way what an NFT is
What does NFT mean?
NFT is the abbreviation for non-fungible token.
What is fungibility?
Another distinctive feature of an NFT is the aspect of non-fungibility. A good example to illustrate fungibility would be currencies, as you could easily exchange a $5 bill for another $5 bill due to their homogeneity. These items are interchangeable because they are defined by their value and not by their uniqueness.
NFTs, on the other hand, are not interchangeable with each other. Each NFT has a unique and distinctive identifier that sets it apart from the rest. It serves as proof of authenticity and ownership within the digital world.
NFT is the abbreviation for non-fungible token.
What is fungibility?
Another distinctive feature of an NFT is the aspect of non-fungibility. A good example to illustrate fungibility would be currencies, as you could easily exchange a $5 bill for another $5 bill due to their homogeneity. These items are interchangeable because they are defined by their value and not by their uniqueness.
NFTs, on the other hand, are not interchangeable with each other. Each NFT has a unique and distinctive identifier that sets it apart from the rest. It serves as proof of authenticity and ownership within the digital world.
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