Category: DeFi News

DeFi News is the category where you can discover the most interesting news about DeFi. What exactly are NFTs? In a nutshell, NFTs are: Nonfungible tokens, or NFTs, are verifiably unique digital and physical commodity representations. Each NFT is unique in terms of its composition, and hence in terms of its worth. Dollars are fungible in the physical world. If a person swaps a paper US dollar for another paper US dollar, the value of the former is not lost. On the other side, nonfungible items such as artwork are rare. The “Mona Lisa” does not have the same worth as “The Persistence of Memory,” because both artworks are one-of-a-kind and so have value. NFT crypto assets, which are based on distributed ledger technology, serve as a way of identification for buyers of one-of-a-kind things, demonstrating factors such as ownership. In the years 2020 and 2021, NFTs became significantly more well-known. Other applications for NFTs include corporations measuring their internal resources or platforms validating subscriptions and use.

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