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Questions and Answers
What are NFTs?
What are NFTs?
- Digital tokens that can be exchanged for other tokens of the same value
- Digital tokens that represent ownership of physical assets
- Unique digital tokens that represent ownership of a specific cryptocurrency
- Unique digital tokens that represent ownership of a specific asset or piece of content (correct)
How are NFTs created?
How are NFTs created?
- Using smart contracts (correct)
- Using traditional banking systems
- Using physical contracts
- Using cryptocurrency exchanges
What is the benefit of NFTs for creators?
What is the benefit of NFTs for creators?
- They allow creators to sell their work on traditional art marketplaces
- They allow creators to retain control over their work (correct)
- They allow creators to sell their work for a lower price
- They allow creators to give away their work for free
What is a blockchain?
What is a blockchain?
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What is the potential impact of NFTs?
What is the potential impact of NFTs?
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