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What are NFTS used for?

NFTs can be described as ‘digital contracts that use blockchains to prove ownership of a particular digital asset, such as an image or a GIF’. Asked what sparked his interest in NFTs ...

What does a NFT stand for?

What does NFT stand for? Simply put NFT stands for Non-Fungible Token, which is a one-of-a-kind digital asset that belongs to its owners only. To create an NFT one would have to mint an NFT from a digital asset.

Are NFTS a cryptocurrency?

NFTs exist on a blockchain, which is a distributed public ledger that records transactions. You’re probably most familiar with blockchain as the underlying process that makes cryptocurrencies possible. Specifically, NFTs are typically held on the Ethereum blockchain, although other blockchains support them as well.

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