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How Does China View NFTs and What Are its Market Prospects?

What is NFT?

A non-fungible token (NFT) is a one-of-a-kind piece of data that is tracked on a blockchain ledger. This new technology ensures the token’s uniqueness while also providing security features for the creation’s conservation or exchange.

The most well-known application of this technology thus far has been as an ownership certificate for a digital asset. NFTs include everything from autographed tweets to media that can be verified using blockchain technology, such as a photograph, a painting, a song, a video, or even an emoji. Unlike most virtual content, which may be copied indefinitely, NFTs are one-of-a-kind digital artifacts.

Source China Briefing

 

 

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