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The Definitive Guide for What Is an NFT? - VOA Learning English


<h1 style="clear:both" id="content-section-0">The Greatest Guide To NFT for Art, Music: What Is Non-Fungible Token Cryptocurrency?<br></h1>
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<p class="p__0">Unit of information that is special and not interchangeable A non-fungible token (NFT) is a special and non-interchangeable information saved on a digital ledger (blockchain). NFTs can be utilized to represent quickly reproducible products such as photos, videos, audio, and other types of digital files as special items (comparable to a certificate of credibility), and use blockchain innovation to establish a verified and public evidence of ownership.</p>
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<p class="p__1">The lack of interchangeability (fungibility) distinguishes NFTs from blockchain cryptocurrencies, such as Bitcoin. The first NFT project was launched in 2015 on the Ethereum blockchain, and interest grew with the increase of interest in crypto currencies. Interest and the overall financial value of NFTs grew substantially in 2021, with sales of NFTs exceeding $2 billion during the very first quarter of the yearmore than 20 times that of the previous quarter.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://i2.wp.com/cdn.daz3d.com/file/dazcdn/media/Tafi/blog/beeple-nft-a.jpg?resize=1170%2C591&amp;ssl=1" alt="What Does NFT Mean? NFT Definition and Background - Capitalize My Title"><span style="display:none" itemprop="caption">What is NFT (Non Fungible Tokens)? Why NFTs are So Popular Today?</span>
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<p class="p__2">Description An NFT is an information saved on a digital ledger, called a blockchain, which can be sold and traded. The NFT can be associated with a specific digital or physical possession (such as a file or a physical things) and a license to utilize the asset for a defined purpose.</p>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://pyxis.nymag.com/v1/imgs/66b/482/ca30781a635999c52c4a5f95b6b642bb8b-NFT-lede.rsquare.w1200.jpg" alt="What are NFTs and what do they mean for the music industry? - Blog - Splice"><span style="display:none" itemprop="caption">What is an NFT ? - NFT Shop</span>
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<img class="featurable" style="max-height:300px;max-width:400px;" itemprop="image" src="https://images.theconversation.com/files/417199/original/file-20210820-25-1nyvvfh.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w= <a href=" https: diigo.com 0n1vcq">This Author &amp;fit=clip" alt="what is an NFT, beeple, and why is the non-fungible art marketplace worth millions?"/&gt;<span style="display:none" itemprop="caption">What is a non-fungible token (NFT)? - Coinbase</span>
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<p class="p__3">NFTs work like cryptographic tokens, however, unlike cryptocurrencies like Bitcoin, NFTs are not mutually interchangeable, hence not fungible. While all bitcoins are equivalent, each NFT may represent a different hidden property and hence have a various worth. NFTs are developed when blockchains string records of cryptographic hash, a set of characters identifying a set of data, onto previous records for that reason producing a chain of recognizable data blocks.</p>
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<h1 style="clear:both" id="content-section-1">What is a NFT? (Explained) - YouTube - The Facts<br></h1>
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<p class="p__4">Nevertheless, information links that point to information like where the art is saved can die. Utilizes The distinct identity and ownership of an NFT is proven through the blockchain ledger. Ownership of the NFT is often connected with a license to utilize the underlying digital property, but typically does not confer copyright to the purchaser, some agreements just give a license for personal, non-commercial use, while other licenses also allow business usage of the underlying digital property.</p>
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