Non-fungible tokens, or NFTs, are unique digital assets whose ownership is verifiably recorded on a blockchain, ensuring each token is distinct and non-interchangeable. Unlike cryptocurrencies, which are fungible, NFTs represent singular items with verifiable scarcity and individual identity. They serve as cryptographic proof of authenticity and ownership for digital or physical assets.
Context
NFTs frequently feature in headlines regarding digital art, collectibles, gaming, and virtual real estate, having revolutionized concepts of digital ownership. Current discourse often centers on their market valuation, intellectual property rights, and their potential to transform various industries beyond mere digital assets. Regulatory classification and environmental impact are also significant topics.
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