What is an NFT?

Non-Fungible Token Explained

In short, an NFT is a digital asset that is stored on the blockchain, similar to a token, but each NFT is unique and cannot be directly exchanged for an EXACT copy of the same thing like a token. Non-Fungible means not able to be replaced by another exactly identical item. Baseball cards or Diamonds are other physical examples of Non-Fungible items. They can be replaced by something very similar, but the characteristics of these items such as cut, color and size distinguish the one you have from any other one in existence! If the content is copied and re-minted, the original is the 'Mona Lisa' and the clones minted by the copy are as valuable as the $0.25 version at a tourist center. A Non-Fungible Token is a digital asset stored on a digital ledger known as the blockchain. This asset can be bought, sold and traded on marketplaces. The NFT can represent digital art such as music, photos, videos, or they can be tied to physical items such as clothes, sex toys or even bath water. NFT's can represent services rendered (Receipts) or even future services such as phone calls, video chats or custom content. The possibilities are nearly limitless!

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