In simple terms a fungible token is an asset which can be exchanged on a one-for-one basis such as money or bitcoins.

Non fungible tokens indian express. Classroom oi-Roshni Agarwal Updated. Nor do they represent the views or opinions of The New Indian Express. NFTs or Non-Fungible Tokens are unique declarations of singular ownership on an item.

Owning an NFT is like owning a one-of-a-kind work of art or a collectible antique. Express News Service Most dictionaries still dont have an exact meaning for Non-Fungible Tokens NFTs. A unique system that has been in the making since 2012.

The types of assets most commonly associated with NFTs are digital assets such. After slow start Indias COVID vaccination pace improves. The online auction is the latest step.

An online sale of non-fungible tokens NFTs by the digital artist Pak fetched a total of 168 million at Sothebys including an image of a single-pixel which sold for 136 million the auction house said on Wednesday. The post-pandemic digital boom is visible in every industry and marketplace. Non-fungible tokens or NFTs are digital records of ownership of assets.

Auction house Sothebys hopes to appeal to both traditional art collectors and crypto enthusiasts with a sale of digital art in the form of non-fungible tokens NFTs. This is in contrast to cryptocurrencies like Bitcoin on lightning and many network or utility tokens that are fungible in nature. A fungible token can be broken down and transferred much like a 100 rupee bill can be broken into five 20 rupee bills.

NFTs are unique tokens or digital assets that generate value because of their uniqueness. Courtesy of SothebysHandout via REUTERS. Target distant still.