![]() Because they are based on blockchains, NFTs can also be used to remove intermediaries and connect artists with audiences or for identity management. The distinct construction of each NFT has the potential for several use cases. NFTs can also be used to represent individuals' identities, property rights, and more."Tokenizing" these real-world tangible assets allows them to be bought, sold, and traded more efficiently while reducing the probability of fraud.NFTs can be used to represent real-world items like artwork and real-estate.NFTs are unique cryptographic tokens that exist on a blockchain and cannot be replicated.Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency Non-fungible tokens (or NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. ![]()
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