Let’s go over the basics to understand how NFTs are important to your business. A simple way to understand NFTs is as an item in an accounting ledger. The T in NFT refers to a token because it’s a unit logged on the blockchain—the structure on which cryptocurrencies rely. In summary, instead of owning a unit of currency, you own a non-interchangeable digital item that is encrypted across multiple computers on the public record—it’s an asset that anyone can look up and verify the ownership of.
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