How do NFTs fit into the broader context of digital currencies?

1 answers

• Dec 30, 2021 · 3 years ago
  When it comes to the broader context of digital currencies, NFTs offer a unique value proposition. While cryptocurrencies like Bitcoin and Ethereum are primarily used as a medium of exchange or store of value, NFTs provide a way to represent ownership or provenance of digital assets. This opens up new possibilities for creators, artists, and collectors in various industries. For example, musicians can sell limited edition albums as NFTs, game developers can create unique in-game items, and virtual real estate can be bought and sold as NFTs. NFTs also have the potential to enable new business models, such as fractional ownership and royalty distribution. Overall, NFTs are an exciting development in the broader landscape of digital currencies and have the potential to reshape how we create, own, and trade digital assets.
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