Ant Group, Tencent Change NFT References to ‘Digital Collectibles’: Report
NFTs appear to be facing regulatory heat in China.
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Oct 25, 2021 at 9:30 p.m. UTC
Oct 25, 2021
Non-Fungible Tokens (NFTs) are unique digital assets verified using blockchain technology, primarily on platforms like Ethereum. Unlike cryptocurrencies, NFTs are indivisible and cannot be exchanged on a one-to-one basis, ensuring each NFT is distinct and irreplaceable, much like a physical collectible. They have gained prominence in digital art, music, gaming, and other online communities for enabling proof of ownership and authenticity of digital creations. NFTs can represent anything from artwork and music to videos and tweets.