NFT: A Beginner's Guide

NFTs have been in the headlines recently, with many predicting that they will change the way we live and do business. They are generated through a process called hashing and are immutable.

NFTs are basically codes that represent information such as property or financial assets, or even pieces of data. The important thing is that they can be traded digitally, without any physical object being exchanged.

It's important to understand that NFTs are not cryptocurrencies - they require a different infrastructure and storage model.

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NFTs are tokens on an Ethereum blockchain that can represent any type of digital asset. They can be used as a way to track, store and transfer ownership of anything from virtual goods to securities or even land deeds.

Tokens can represent anything (from virtual goods to securities) and the possibilities are almost infinite! These tokens are digitized assets in the form of smart contracts which are stored on a blockchain network. And because they exist as smart contracts, we don't need centralized authorities like banks or governments to keep track of things.

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NFT is an abbreviation for "non-fungible token." NFTs are a new type of digital asset that have been designed to be unique, meaning they can't be duplicated or confused with something else.

The use cases of NFTs are wide-ranging. They can represent in-game assets, art pieces and much more. The tokens can also act as securities or to help track ownership and authenticity of virtual goods and services.