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What is NFT?
NFT is a digital asset whose unique identity is kept and verified on a Blockchain “commonly known as a digital ledger”. And since each NFT will be irreplaceable, it cannot easily be exchanged for another asset of the same value. Common NFT assets are usually images, videos, music, GIFs, and collections.
The NFT will hold the value because only one version containing the content will be created. In other words, an NFT can only have one owner at a time the NFT is created and operated. No one has the right to change its ownership or create the same new NFT on the Blockchain. Because of this scarcity, creators/owners have the ability to set their own rates for their content.
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