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By very definition, there is only one of these in the world, meaning they are not replaceable and non-fungible. The same goes for NFTs, which can be moments in time, moments of a live experience, singular art pieces, or any type of artwork that is unique and irreplaceable but can be bought and sold through the blockchain. The Difference Between NFTs and Art Unlike art, NFTs can take on virtually any medium, whether that’s tangible or intangible, through a digital art piece or not. These different mediums can include Tweets Facebook.
Posts Moments in history (more on this and the NBA later) Photographs Canada WhatsApp Number Data of creative work People can choose different mediums to sell or buy, meaning businesses are highly flexible in the types of NFTs that can market. For instance, Twitter CEO Jack Dorsey sold his first-ever tweet for $2.9 million in March of 2021. If someone is willing to spend money on something that is free for everyone to see, and interact with, then how do they know who owns the NFT? This is where we need to explain the blockchain a bit better.
What’s The Difference Between Cryptocurrency and NFTs? Many people might be confused as to whether or not an NFT counts as cryptocurrency. While an NFT can be traded among other web platforms such as OpenSea, much like cryptocurrency, they are not the same. Cryptocurrency is Not Non-Fungible By very definition, an NFT has to be unique and “non-fungible,” meaning not replaceable, in order to qualify as an NFT. On the contrary, cryptocurrency can be sold, bought, traded, and reproduced among sellers, which by very definition makes it a currency as opposed to a non-fungible token.
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