To tokenize something means to put it into circulation by converting the file into a digital token so that it’s usable on blockchain applications, such as NFT marketplaces or blockchain games.Įach NFT has unique identifiers, history and value. What are NFTs?Īn NFT is a unique digital file that’s been tokenized on a blockchain. NFTs and crypto transactions are both tracked on a blockchain - a living, peer-to-peer digital ledger that’s overseen by a system of computers working together to verify information and create new blocks of information. Additionally, crypto coins can be swapped for one another and have an exchange rate - Bitcoin for Litecoin, for example. You could trade your NFT for another, but since all NFTs are unique, you could stand to lose or gain value.Ī crypto coin, say one Bitcoin, has the same value as all other Bitcoins. The term fungible is a fancy way of saying interchangeable. NFTs are nonfungible, while cryptocurrencies are fungible. Finder or the author may own cryptocurrency discussed on this page.Ĭryptocurrencies - often shortened to just crypto - are not the same as nonfungible tokens (NFTs).
#NFT CRYPTO COINS PROFESSIONAL#
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Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services.
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