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What is a nft non fungible token. This means that they can monetise the right to own it. NFTs give a person proof of ownership. You can think of them as collectible.

Fungible items on the other hand can be exchanged because their value defines them rather than their unique properties. A NFT non-fungible token is a particular cryptographically-generated token that makes use of blockchain know-how to hyperlink with a singular digital asset that cant be replicated. And after Christies auction house sold the first-ever NFT.

It is a piece of data stored in a blockchain digital ledger and can represent assets like art images sounds videos and other types of digital files for purchase. What Does Non-Fungible Token NFT Mean. NFT stands for non-fungible token.

Non-fungible is an economic term that you could use to describe things like your furniture a song file or your computer. What is a Non-fungible Token NFT. The Wikipedia definition of an NFT says.

An NFT is a digital certificate representing a one-of-a-kind asset just like a one-of-a-kind rookie card. So putting these words together a non-fungible token is a unique digital object typically coming in the forms of art music or videos. What Is a Non-Fungible Token.

There is even talk of NFTs being applied to real estate but more on that later. NFT stands for non-fungible token. Because they cannot be replicated they represent something unique and special.