A question a lot of us in the crypto world get asked... 'What is an NFT?' Let's break it down for you (and the people who ask).
The NFT creation process is typically referred to as minting. Using smart contracts, minting converts digital files into digital assets on a blockchain. When purchasing an NFT, you essentially acquire ownership of the unique identifier associated with that specific digital asset. As a result, the code owner possesses the exclusive rights to use, display, and interact with that asset.
Another aspect to consider is the long-term value of NFTs. While some NFTs have attained astronomical prices, the market can be volatile and speculative. As with any investment, long-term stability is not guaranteed.
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