![]() ![]() Is investing in CryptoKitties NFT a good investment? NFTs lose their value when split into smaller portions, however, they can be duplicated by the artist and each additional copy can be sold separately (but the total number of duplicates will then always be known). Even when transacting, each token is sold as a whole, unlike cryptocurrencies which are divisible into smaller units. These tokens are stored cryptographically in a blockchain network for authentication and validation. When something is non-fungible, it means that it is unique, and not replaceable with any other item out there.Īlthough NFTs are conceptually similar to cryptocurrencies, these digital assets might represent antiques & artworks, collectables like trading cards, and other items with unique features. For instance, one kilo of 24 karat gold is – at least in theory – replaceable with any other kilo of 24 karat gold. Something which is fungible is replaceable. NFT is an acronym for “Non-Fungible Tokens”. These digital pets cannot be replicated, taken away, or destroyed.ĬryptoKitties are minted on the Ethereum Blockchain Network and is created by the Canadian company - Dapper Labs These NFTs are unique collectable kitty characters from a game centred around breedable and adorable creatures called CryptoKitties! Since each cat collectable has unique attributes and is 100% owned by you, just like your pet cat at home. ![]()
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