For example, if every BTC is the same and has an identical price, then the special thing about NFT is that each of them is unique and cannot be replaced by its counterpart (because it has a specific intrinsic worth). Moreover, the difference between another crypto and a non-fungible token is fairly easy to determine, so even beginners can get up to speed quickly. Now you know what does NFT stand for in the text. ![]() ![]() But NFTs can be used as collateral on crypto lending platforms, allowing owners to borrow funds against the worth of their unique digital assets. It is not a currency or money in the usual sense of the word, but rather a certain unique commodity.
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