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Understanding NFTs and Their Characteristics

• Verifiable: Blockchain enables the verification of something that is much more difficult to prove or certify in other contexts, such as art or stamp collecting: Blockchain records who has purchased or sold an NFT and who is the current owner, including the original creator from whom the digital asset was purchased in the first place.
• Freehold Ownership: Unlike music or films, when you purchase one of these items, you own it. You do not purchase a license to see the film or listen to the music, but you own the intangible asset entirely.
• Indestructible: Because an NFT's data is saved on the blockchain through a smart contract, it cannot be destroyed, removed, or reproduced.
• Indivisibility: Unlike cryptocurrencies, NFTs are not divisible and retain their entire worth as a single unit or token. There is no such thing as 1/1000th of a crypto cat.
• Non-interoperable: A Cryptokitties avatar/card cannot be used in other comparable games such as CryptoPunk.
• Oddly Unique: These assets bear numerous parallels to works of art, of which there may be copies. But here the owner can certify that they are the sole and actual owner of the original work, despite the ease with which it can be shared on the internet. It's an odd scenario and a reversal of how we regard tangible and digital works of art.

NFT in Businesses

• Owning a Unique Design

• Reinvent Luxury Retail

• Sell Digital Fashion

• Profitable NFT Product Trading