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FT Weekend: How NFTs shook up the art world
FT News Briefing
What Is a Non-Fungible Token?
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NFT stands for non-fungible token. It's meant to represent ownership of something, but it doesn't necessarily mean that. NFTs are supposed to be different from other cryptocurrencies because they run on blockchains. But in order to differentiate them, these ones are supposedly unique. They're not swappable one for one. So you might think that you own something, but that's quite a kind of abstract.
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