Non-fungible Tokens (NFTs) are unique digital assets stored on a blockchain, representing ownership of items like digital art, music, virtual real estate, and collectibles. Unlike cryptocurrencies such as Bitcoin, which are fungible, NFTs are one-of-a-kind and cannot be exchanged like-for-like. NFTs utilize smart contracts on blockchain platforms to verify authenticity and ownership, opening new avenues for creators and brands in the digital economy.
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