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NFTs
NFTs, or non-fungible tokens, are a type of digital asset that are unique and cannot be replaced. They are typically used to represent digital art, collectibles, and other unique digital assets. NFTs are built on blockchain technology and can be bought, sold, and traded like physical assets.
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Interconnection
The Metaverse, Web3, and NFTs are all interconnected and are shaping the future of the internet. The Metaverse is becoming a reality thanks to Web3 technology, and NFTs are being used to represent digital assets within the Metaverse. As these technologies continue to evolve, the possibilities are...
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The Metaverse
The Metaverse, also known as the virtual universe, is a concept that has been around for decades in science fiction. It refers to a virtual world where people can interact with each other in a shared, immersive environment. With the rise of Web3 technology, the Metaverse is becoming a reality.
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Introduction
The Metaverse, Web3, and NFTs are all related concepts that are rapidly evolving in the world of blockchain and cryptocurrency. In this thread, we will explore what each of these terms means and how they are shaping the future of the internet.
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Web3
Web3, also known as the decentralized web, is a term that refers to the next generation of the internet. It is built on blockchain technology and allows for decentralized applications, or dApps, to be built on top of it. This means that instead of relying on centralized servers, Web3 applications...
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The Metaverse, Web3, and NFTs are all concepts that are rapidly evolving in the world of blockchain and cryptocurrency. Each of these are changing the way we use the internet and creating new opportunities for innovation and creativity.
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How NFTs work
Traditional art is valuable because they are unique. But digital files can be duplicated.
With NFTs, artwork can be "tokenised" - a digital certificate of ownership that can be bought and sold. A record of who owns what is stored on a shared ledger known as...
Non-fungible token (NFT)
- In economics, a fungible asset is like money - it is something with units that can be interchanged. With money, a $10 can be exchanged for two $5, and it still has the same value.
- If something is non-fungible, it has unique properties and cannot be i...
What is an NFT?
NFT stands for Non-fungible token.
- cannot be exchanged/replicated/replaced because they are unique.
- allows you to buy & sell ownership of unique digital assets.
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