You should protect the NFTs you own by securely backing up the wallet that is holding the keys to your NFTs. NFT functionality is still in its infancy, but has the potential to change how assets are traded. In addition, NFTs can be programmed so that when they are sold on the secondary market, a portion of the proceeds can automatically be sent to the creator, thus creating a new motivational value chain for the creator economy. NFTs can be tracked on the Blockchain as they are transferred or sold to other people. NFTs can be linked to physical assets, e.g., a diamond, a piece of physical, or a digital asset like an online concert ticket or digital art. In contrast, cryptocurrencies such as BTC, ETH or other altcoins are interchangeable with others of the same type (1 BTC = any other BTC). TL DR An NFT or "niftie" is a token that is associated with a specific physical or digital asset that has a unique form and value.
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