NFTs Explained Simply: What Are They and Why Do They Matter? 💡

Non-fungible tokens (NFTs) are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can serve as a medium for commercial transactions 📸Add me on Instagram: https://www.instagram.com/thecryptochap/ _______________________________________________ #web3 #cryptocurrency #nft #whatisnft #boredape #cryptopunks #nftexplained #cryptochap ----------------------------------------------- ABOUT MY CHANNEL: Hi! I’m Abhishek. On my channel, you'll learn about Crypto, NFTs, Blockchain, and everything you need to know about the web3 space. Subscribe here to see more of my videos in your feed! : https://www.youtube.com/channel/UC7Y_681mMdpbcyQWW10lWQA Disclaimer: This is not investment advice. I’m not a financial adviser. Always do your own research and only invest solely based on your own findings and personal judgment. Non-profit, educational, or personal use tips the balance in favor of fair use.