Understanding NFT and how it works - Vorphy

NFT stands for Non-Fungible Token. Non-fungible items are unique and cannot be copied or replaced. When you create an NFT, you are creating a piece of code that is stored on the blockchain and attached to an asset. It is not the asset itself that is important, but the potential return on it. When you purchase an NFT item, you are paying for the right to own a digital asset. A unique identifier makes it easy to verify the authenticity and makes it impossible to falsify. You invest in the design and aesthetics of your products.

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