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What is a NFT item & how does it work?

It is a unique, blockchain-based item representing a specific item or element within a game. For example, if you unlocked a tool while playing an NFT-supported game, you could mint that in-game item and take ownership of it. This ownership is verifiable, so your tool can typically be sold, collected, and used just like a real-world item.

What is a non fungible token (NFT)?

Non-fungible tokens (NFTs) are assets that have been tokenized via a blockchain. They are assigned unique identification codes and metadata that distinguish them from other tokens. NFTs can be traded and exchanged for money, cryptocurrencies, or other NFTs—it all depends on the value the market and owners have placed on them.

Are two NFTS from the same blockchain interchangeable?

Two NFTs from the same blockchain can look identical, but they are not interchangeable. NFTs (non-fungible tokens) are unique cryptographic tokens that exist on a blockchain and cannot be replicated. NFTs can represent digital or real-world items like artwork and real estate.

Are NFTS interoperable?

While true interoperability is still slightly out of reach, ideally, NFTs will be able to be used across different platforms and virtual worlds within the metaverse in the future, allowing users to bring their digital items with them as they navigate between various experiences.

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