A cryptocurrency, crypto-currency, or crypto is a binary data designed to work as a medium of exchange wherein individual coin ownership records are stored in a ledger existing in a form of a computerized database using strong cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership .
A blockchain is a growing list of records, called blocks, that are linked together using cryptography.
A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable.
NFT stands for non-fungible token, which is a unique digital asset that can't be replicated. NFTs are used to represent ownership of digital or real-world items.
How do NFTs work?
NFTs are verified using blockchain technology.
Each NFT has a distinct value based on factors like scarcity and demand.
NFTs can't be directly exchanged for other tokens.
NFTs can be purchased, sold, won, or traded on dApps.
What can NFTs represent?
artwork, comic books, sports collectibles, trading cards, games, tweets, profile pictures, and real estate.
Why are NFTs popular?
NFTs appeal to collectors who value rarity and authenticity in the digital realm.
Some NFTs serve as status symbols in online communities.
NFTs allow creators to monetize their work through a verifiable digital certificate of authenticity.
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