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What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well. In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such. Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.
Tiffany Fong flames Celsius, FTX and NY Post: Hall of Flame
Tiffany Fong stumbled into content creation and independent journalism after getting burned on the Celsius bankruptcy, moving forward she has...
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Keep an eye out for major company NFT trademark filings this year
NFT trademark filings by companies aren’t just a marketing stunt. According to a trademark lawyer, they have to use what’s...
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Here’s how to prevent NFT theft, according to industry professionals
Professionals working in the Web3 space highlighted various tools and best practices to protect NFTs from hackers and scammers.
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Opinion: Should Bored Ape buyers be legally entitled to refunds?
It isn’t clear whether a 25-year-old European Union law means you should be allowed to get refunds on your NFTs.
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Exclusive NFT presale to treat all the hard workers, feat. Snoop Dogg and Billy Ray Cyrus
Metaverse platform Animal Concerts, Cointelegraph, The Avila Brothers, Billy Ray Cyrus and Snoop Dogg are celebrating blue-collar workers with a...
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Solana (SOL) price rally could fizzle out due to weak fundamentals
Solana’s usage data and ecosystem development do not support the recent bullish rally, raising the probability of a SOL price...
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69% users bet metaverse entertainment will reshape social lifestyle: Data
A new survey from CoinWire revealed that the majority of users believe the metaverse will reshape their social life and...
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Binance tightens NFT rules: Nifty Newsletter, Jan. 18–24
Lawyers believe that NFT court orders could help reach defendants that cannot be contacted using ordinary means.
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