Non-Fungible Tokens

A Non-Fungible Token (NFT) is a digital asset that can be a drawing, animation, song, picture, or video with a blockchain-created certificate of authenticity.

  • Tokenizing these commodities lowers the risk of fraud while enabling more efficient buying, selling, and trading.
  • Fungibility describes an asset's capacity to be traded in for a comparable asset without losing worth (For e.g., 100 rupees note is fungible).

Characteristics of NFT

  • All NFTs have a unique quality and a distinct value from any other similar token.
  • They are digitally rare.
  • Must be sold or purchased as a whole as they cannot be divided unlike fungible ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Be an Annual Subscriber

Science & Technology