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Non-Fungible Tokens

  • Posted By
    10Pointer
  • Categories
    Economy
  • Published
    21st Jan, 2022

The growing popularity of non-fungible tokens has reached Meta and its two large social media platforms – Facebook and Instagram. 

  • A recent report outlined that both parties are looking into a way to allow users to create and sell NFTs.

Context

The growing popularity of non-fungible tokens has reached Meta and its two large social media platforms – Facebook and Instagram. 

  • A recent report outlined that both parties are looking into a way to allow users to create and sell NFTs.

What is NFT?

  • An NFT, or non-fungible token, is a type of digital asset that lives on a blockchain. 
  • It has a monetary value and is useful to authenticate and track the provenance of another piece of digital media.
  • They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.
  • An NFT is created, or “minted” from digital objects that represent both tangible and intangible items, including:
  • Art
  • GIFs
  • Videos and sports highlights
  • Collectibles
  • Virtual avatars and video game skins
  • Designer sneakers
  • Music

Verifying, please be patient.

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