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What is an NFT?

An NFT (non-fungible token) is a type of digital asset in which each unit differs from another. In other words, each NFT is unique.

In most digital currencies and in fiat currencies like US dollars or Euros, each unit is equivalent to and interchangeable with every other unit. This is called fungibility. When something is absolutely unique and can not be exchanged for the same unit, it is called non-fungible.