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What Is An NFT?

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TL;DR

NFTs are unique digital assets that represent ownership of specific items, such as virtual concert tickets or rare pieces of art.

NFTs are stored on the blockchain, which means they can't be easily edited, copied or duplicated. There, they can act as a publicly verifiable proof of ownership on a decentralized database.

NFTs offer creators new opportunities for monetization, fostering innovation and supporting the growth of the creative industries.

What Is A Non-Fungible Token (NFT)?

An NFT is a cryptographic token hosted on a blockchain and it can be used to represent a digital asset. The non-fungibility of NFTs defines them as digital assets that represent ownership of one-of-a-kind items such as artwork, video game items, trading cards, virtual real estate, and other digital goods.

In recent years, NFTs have gained popularity as a way for creators to monetize their digital creations and for collectors to own unique digital assets.