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Unit of data that is distinct and not interchangeable A non-fungible token (NFT) is a special and non-interchangeable datum stored on a digital ledger (blockchain). NFTs can be utilized to represent easily reproducible products such as pictures, videos, audio, and other kinds of digital files as unique products (analogous to a certificate of credibility), and use blockchain innovation to develop a validated and public evidence of ownership.

The absence of interchangeability (fungibility) identifies NFTs from blockchain cryptocurrencies, such as Bitcoin.  This Author  was released in 2015 on the Ethereum blockchain, and interest grew with the rise of interest in crypto currencies. Interest and the overall financial value of NFTs grew considerably in 2021, with sales of NFTs going beyond $2 billion throughout the first quarter of the yearmore than 20 times that of the previous quarter.

What Does NFT Mean For Digital Artists and their Digital Art? - How Are  NFTs Transforming the Digital Art World?: DigitalArt

Description An NFT is a datum kept on a digital ledger, called a blockchain, which can be offered and traded. The NFT can be associated with a particular digital or physical property (such as a file or a physical things) and a license to utilize the asset for a specified purpose.

NFTs, explained: what they are, and why they're suddenly worth millions -  The Verge

What is a non-fungible token (NFT)? - Coinbase

NFTs operate like cryptographic tokens, but, unlike cryptocurrencies like Bitcoin, NFTs are not mutually interchangeable, hence not fungible. While all bitcoins are equivalent, each NFT may represent a different hidden possession and thus have a different value. NFTs are produced when blockchains string records of cryptographic hash, a set of characters determining a set of data, onto previous records therefore developing a chain of recognizable information blocks.

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Nevertheless, data links that indicate details like where the art is stored can die. Utilizes The special identity and ownership of an NFT is verifiable through the blockchain ledger. Ownership of the NFT is often related to a license to utilize the underlying digital possession, but generally does not provide copyright to the buyer, some agreements only give a license for personal, non-commercial use, while other licenses likewise allow industrial usage of the underlying digital asset.