Saad Sheikh NFTS tokens

Saad Sheikh However, the transfer of token assets is recorded on the blockchain in the same way as a cryptocurrency. In the case of non-fungible tokens (NFTs) on the Ethereum blockchain, effective legal ownership is never transferred to the underlying digital file.

Saad Sheikh United Kingdom On the other hand, NFTs (which are crypto-currency assets developed in accordance with the specific Ethereum ERC-721 and ERC-1155 standards) are unique and indivisible; interchangeable. Some NFTs are tied to real-world objects, giving value in terms of tangibility backed by immutability of ownership.