3min chapter

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NFTs, Explained

a16z Podcast

CHAPTER

Non Fungible Tokens - What Are They?

Nft stands for non funcable token, which is just the term used to describe a unique digial asset whose ownership is tracked on a block chain. This can be a really broad set of assets, from disial goods like virtual land and art work, to a claim on physical assets like real estate or clothing items. When you think about the physical world, sometimes t involves a notary, like a third party bank. It involves someone to in the art world, like providence, tracking through certificates this ability to own and track a digital file without a third party player.

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