According to FourCreeds: They can even be used to signify ownership of any one-of-a-kind asset, such as a document for a digital or physical object. NFT is a digital proof of ownership of a specific item that can be bought and traded via the Internet. NFTs live on Ethereum and can be bought and sold on an Ethereum-based NFT marketplace. They can only have one official owner at a time and are protected by the Ethereum blockchain, which means that no one can edit the ownership record or copy/paste an existing NFT.

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