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21/02/2022
The State Hermitage in Saint Peterburg, Russia, is the largest museum in the world by gallery space with around 3 million works of art.
In September 2021, the museum took its first steps in the NFT world by selling five digital reproductions of its most famous masterpieces in the form of NFTs raising almost $450,000.
12/02/2022
NFTs. Non-fungible tokens. They are unique, irreplaceable, rare, easily identifiable digital objects protected by cryptography, with in some cases digital representations of real-world objects.
What is the difference between them and Fungible tokens? Fungible tokens are identical and therefore interchangeable, such as banknotes.
In contrast, an authentic painting is unique.
The idea with NFTs is that each NFT is a unique, irreplaceable or rare asset, thus highlighting the concept of rarity in the digital world. They are in your absolute ownership, so you are free to do whatever you want. Sell them, destroy them, keep them.
NFTs are not located on a computer or server. They are kept at your personal blockchain address, which is controlled by your private key. Because they are in a blockchain, in other words in a decentralized database, token creation and transfer files are public.
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