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Non-Fungible Token (NFT)

Non-Fungible Tokens (NFTs) are unique digital assets that represent ownership or proof of authenticity of a specific item or asset, primarily on the Ethereum blockchain. Unlike cryptocurrencies like Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, each NFT has a unique digital signature, making it impossible for NFTs to be exchanged on a like-for-like basis. NFTs have gained popularity in digital art, collectibles, and gaming, allowing for the tokenization of real or virtual assets, from artwork and music to in-game items and real estate.