Analytics Strategy

What is an NFT (nonfungible token)?

To understand NFT (nonfungible token) better, let me start by explaining Fungible tokens or assets. Those can be divided and are not unique. An example of this is money which is a token of currency that in fungible, this means its units are the same. A £1 in London is the same as a £1 in New York, same value and is divisible. 

NFT on the other hand is an object that can represent something different. Something that is unique. For example, a limited edition car is nonfungible or a piece of art. There is only one of it 

Blockchain is the underlying technology that can easily prove ownership of an intangible digital item. I will explain blockchain in a simple way next week so stay let me know your questions below!

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