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What is an NFT token?

by lerika

NFT tokens have become a real trend in 2021. There is so much hype around them that news about NFT has significantly pushed news about coronavirus out of the information field.

What are NFT tokens? Let’s figure it out together!
The abbreviation NFT stands for Non-Fungible Token.  Roughly speaking, one NFT cannot be replaced with another. You will ask why? It’s simple: each NFT is unique and a second similar one just does not exist!

Any unique digital unit of information may become an NFT token: a photo (picture), video, music file, 3d model, video – whatever. All information about who created the NFT, who bought or sold it, and when is stored on the blockchain. NFT ownership is essentially the ownership of a digital certificate, which is assigned to a specific unique digital object.

There are many marketplaces where you can buy, sell and even create your own NFT token. The Free TON project held its own competition for the creation of NFT token marketplaces, we wrote about the winners in this article.

Due to their exclusivity, NFTs are very popular with collectors. We all know that what once enters the blockchain remains there forever and cannot be changed. That is why recording and storing critical documents is considered one of the most promising NFT applications in the near future.

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