Which blockchain platform is known for its focus on enabling the creation of non-fungible tokens (NFTs)? Answer

Which blockchain platform is known for its focus on enabling the creation of non-fungible tokens (NFTs)? Non-fungible tokens (NFTs) are assets that have been tokenized via a blockchain. Tokens are unique identification codes created from metadata via an encryption function. These tokens are then stored on a blockchain, while the assets themselves are stored in other places. The connection between the token and the asset is what makes them unique.

NFTs can be traded and exchanged for money, cryptocurrencies, or other NFTs—it all depends on the value the market and owners have placed on them. For instance, you could draw a smiley face on a banana, take a picture of it (which has metadata attached to it), and tokenize it on a blockchain. Whoever has the private keys to that token owns whatever rights you have assigned to the token.

Cryptocurrencies are tokens as well; however, the key difference is that two cryptocurrencies from the same blockchain are interchangeable—they are fungible. Two NFTs from the same blockchain can look identical, but they are not interchangeable.

In this article, you’ll learn the correct answer to “Which blockchain platform is known for its focus on enabling the creation of non-fungible tokens (NFTs)?” in Marina protocol.

Which blockchain platform is known for its focus on enabling the creation of non-fungible tokens (NFTs)?

Correct Answer: Flow.