What is NFT

NFT stands for non-fungible tokens. As the name suggests, each of the tokens hold unique characteristics (non-fungible). Because of the unique characteristics, they exist on different token standards from the normal ERC20 tokens – e.g. ERC721

How are NFTs different from Bitcoin, Ethereum etc? 

Bitcoin and Ethereum are considered fungible tokens – e.g. I can give 1 or 2 or 3 bitcoins to you, and you can use any of the bitcoins interchangeably as they are fungible (all bitcoins hold the same value)

What are NFTs typically used for?

Used for digital art, digital gaming, other innovative use cases coming up as well such as interest-bearing NFTs like aavegotchi.com

E.g. if you put the mona lisa art piece on the blockchain, mint it as a non-fungible token, you know it is the only legit mona lisa art piece (non-fungible)

How can I start?

You can try minting your own NFT or buying NFTs on marketplaces such as rarible.com and opensea.io

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