A Non-Fungible Token is NFT. It sits in the blockchain and is nothing more than a simple user agreement, comparable to Ethereum, Bitcoin, or even the fiat U.S. dollar; in its functional context, any token or currency is a form of agreement. NFT in Blockchain stands for the type of data that a Smart Contract describes. We will exclusively utilize Ethereum in our examples because it is the blockchain that is now most often used to deal with NFTs. On Ethereum, just like on many other blockchains, any developer can design a unique Smart Contract and specify its guidelines. In this case, NFT is merely another special kind of contract. ERC721 is the name of the technical standard, and it contains other revisions.
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