The technology that was originally built for gaming will eventually find a path to applications in the real world.

Non fungible token real estate. NFTs are tokens that we can use to represent ownership of unique items. This is in contrast to cryptocurrencies like Bitcoin on lightning and many network or utility tokens that are fungible in nature. Fungible things like a ten-rupee note can be replaced with another ten-rupee note.

NFT is not used as a payment method in the way cryptocurrencies like Bitcoin and Ether are used. Real estate in Decentraland is just one example of a popular growing asset class called non-fungible tokens or NFTs for short. A non-fungible token NFT is a special type of cryptographic token which represents something unique.

Non-fungible tokens are thus not interchangeable. Yes the same blockchain thats made Bitcoin Dogecoin and all the other -coins possible. What Every Estate Planner Needs to Know thats the subject of todays ACTEC Trust and Estate Talk.

We recently covered NFTs here but due to the heightened interest regarding this topic heres a deeper dive into Non-fungible tokens NFTs that have. Non-fungible tokens NFTs are a specific type of digital asset where each token is individualized. In other words each NFT has a unique identifier that makes it distinct from all other NFTs.

ACTEC Fellow Professor Gerry Beyer of Lubbock Texas will give us the. Non-Fungible Tokens 101. They can only have one official owner at a time and theyre secured by the Ethereum blockchain no one can modify the record of ownership or copypaste a new NFT into existence.

What are non-fungible tokens NFTs and what do you need to know to address them in your practice. NFTs are blockchain-based. They let us tokenise things like art collectibles even real estate.