NFTs can be much more than a collectible or piece of art, and savvy brands are recognizing that the most successful and long-term-relevant NFTs will be ones that have ongoing value and utility.
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Unlike crypto, NFTs are not fungible, meaning each NFT is unique and not interchangeable with another NFT. While one bitcoin is equivalent to another bitcoin, no two NFTs are the same. And, just as with bitcoins, the ownership record of NFTs is recorded on a blockchain database.