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What is an NFT?

Definition of NFT

Alex avatar
Written by Alex
Updated over a year ago

Non-fungible tokens (NFTs) are assets on a blockchain with unique identification patterns and codes that make them distinguishable from each other meaning they can neither be replaced nor interchanged because they have unique properties. NFTs are created through a process called minting in which the information of the NFT is published on a blockchain. NFTs can come in the form of art, music, in-game items, videos and more.

Blockchain technology along with NFTs allow artists and creators to monetize their work in the crypto space. NFT's can be art pieces, photographs, entrance tickets to different events, fundraising/charity events or even sports cards and much more.

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