NFTs are of hype nowadays because they are sometimes sold for astronomical sums, also major companies are increasing the craze as we can see these in art market and video games. Most of the people are confused about these digital assets and how they are traded.? What is an NFT? NFT stands for Non-Fungible Token, means the asset in NFT are non-fungible. Lets firtst understand what is fungible and non-fungible. Item which is "fungible" can be exchanged with an equivalent item -- for example, a $10 bill with another $10 bill or with 2 * 5$ bills. Similarly, Crypto currencies, which use a digital public record of transactions called a block chain, are fungible. However, NFTs are digital items that can only be bought and sold using blockchain technology. But they are not fungible, thus making them different type of asset. Mostly they are traded over Ethereum network. The most coveted NFTs that are in hype are released via collections of thousands of unique individu
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