@television
An NFT (Non-Fungible Token) is a unique digital asset that represents ownership or proof of authenticity of a specific item or piece of content on the blockchain, often using Ethereum. Unlike cryptocurrencies like Bitcoin or Ethereum, which are interchangeable, NFTs are one-of-a-kind or limited in quantity, making them "non-fungible." In the digital art space, NFTs allow artists to tokenize their work, providing a new way to monetize and verify ownership. Collectors can buy, sell, or trade NFTs, and artists can also benefit from royalties on secondary sales. NFTs have revolutionized how digital art is bought and sold, creating a new marketplace for creators and collectors.
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