what's an nft?

Answer
Non-fungible token
Non-fungible token
Unique digital identifier recorded on a blockchain
Definition
A unique digital identifier that verifies ownership and authenticity of a digital asset, recorded on a blockchain.
Difference from cryptocurrencies
NFTs are uniquely identifiable and not interchangeable (non-fungible), unlike cryptocurrencies which are fungible.
Associated digital files
Can reference digital files such as artworks, photos, videos, and audio.
Here is a concise answer to the question "What is an NFT?": An NFT (non-fungible token) is a unique digital asset that is recorded on a blockchain. NFTs are used to represent ownership of digital items like artwork, collectibles, videos, and more. Unlike cryptocurrencies which are fungible (one Bitcoin is equal to another), each NFT is unique and cannot be directly exchanged or substituted for another. NFTs allow creators to tokenize their digital assets and sell them directly to consumers, often fetching high prices. The ownership and authenticity of an NFT is verified on the blockchain, which also enables secondary market trading. However, NFTs do not necessarily confer legal rights over the underlying digital file. NFTs have seen a surge in popularity in recent years, with some high-profile NFT sales reaching millions of dollars. However, the NFT market has also faced criticism for issues like environmental impact, speculation, and fraud.
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