laura ruiz
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𝐖𝐡𝐚𝐭 𝐢𝐬 𝐚𝐧 𝐍𝐅𝐓?
Non-fungible tokens, or NFTs for short, are unique digitally tokenized assets on the blockchain that represent ownership over something. As such, these NFTs hold similar qualities to physical collectibles, because they are scarce, limited in supply and verifiably authentic.
On a technical level, the NFT is a contract that gives the holder ownership over a connected media asset. In most cases, the connected media is an image stored on IPFS. However, it can also be an image stored on the blockchain. Technically, the NFT can even be proof of ownership over formal documents, such as a driver’s license or the deeds to piece of land.
Because an NFT serves as a certificate of ownership over a specific asset, it also holds a certain value. This value can be based on market sentiment, or it can even have more fundamental value.
With this out of the way, let’s dive into 10 things you really need to know about NFTs.
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