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✨The Basic Concepts of the World of Cryptocurrencies. NFTs



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An NFT is an appearance registry entry that represents a real object. With the help of NFT, you can digitize any object, picture, video, and so on. In fact, this is a digital certificate that showed the presence of an active asset.
Unlike cryptocurrencies, in NFT each token is unique - it cannot be replaced by another. Thus, the concept of "NFT" stands for "non-fungible token". In the case of standard currencies and tokens, everything is very simple. You can borrow $100 from a friend and return it with any other bill, as it is a fungible resource. Buying an NFT has been compared to buying celebrity autographs. For example, if you take a photo from a friend with an autograph of your favorite actor, and give a probable photo with the signature of another person, things will be captured differently. Each token has an original digital signature and that is what makes its processor. In simple words, an NFT is a digital asset that represents an Existing Object and gives ownership of the original.

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The author is not responsible for the material mentioned in the video and is not responsible for any loss or damage related to any products or services mentioned in the channel. Investing - Risk. Always think things through on your own.

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Category
Cryptocurrencies
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