It Was a medium-level question because though NFTs were in the news but question require the application of basics. Concerning Non-Fungible Tokens (NFTs) , consider the following statements : 1. They enable the digital representation of physical assets. 2. They are unique cryptographic tokens that exist on a blockchain. 3. They can be traded or exchanged at equivalency and therefore can be used as a medium of commercial transactions. Which of the statements given above is correct? (a) 1 and 2 only (b) 2 and 3 only (c) 1 and 3 only ' (d) 1, 2 and 3 Solution- For a Better understanding see the video. Trick Statement 3 is wrong Because Non-fungible items cannot be used as a medium of exchange because they will not be divisible easily. What is a Non-Fungible Token[NFTs]? NFTs are unique c...
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