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Non-fungible tokens (NFTs) are unique digital assets that are stored on a blockchain and cannot be replicated or replaced. NFTs are typically used to represent unique items or collectibles, such as in-game items, artwork, or other digital assets.

One of the key features of NFTs is that they are non-fungible, which means that they cannot be replaced or replicated. This is in contrast to cryptocurrencies, such as Bitcoin or Ethereum, which are interchangeable and can be easily divided into smaller units. Because NFTs are non-fungible, they are unique and cannot be exchanged for other tokens or assets on a one-to-one basis.

Another key feature of NFTs is that they are stored on a blockchain, which allows for secure and transparent ownership and transfer of the digital assets. This means that NFTs can be owned and traded by anyone who has access to the blockchain, without the need for a central authority or third-party intermediary. This creates a more open and decentralized ecosystem for digital assets, where ownership and value can be easily transferred and tracked.