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  • Writer's pictureNorthPoint Financial

How nonfungible tokens work and where they get their value – a cryptocurrency expert explains NFTs

Nonfungible tokens prove ownership of a digital item – image, sound file or text – in the same way that people own crypto coins.

Unlike crypto coins, which are identical and worth the same, NFTs are unique.

An NFT is worth what someone is willing to pay for it, which can be a lot if the NFT is made by a famous artist and the buyer is a wealthy collector.

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