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RMRK FAQ
  • Pages
    • Understanding NFTs
      • What are NFTs?
      • Why are some NFTs so expensive?
      • What is minting?
      • What is NFT 2.0?
    • Welcome to RMRK Wiki
      • Understanding the Platform
      • Understanding and Managing Identity
      • Creating NFTs
    • Understanding RMRK
      • What is RMRK—a company, program, or currency?
      • What is the difference between RMRK and KSM and how does it impact my use of Singular?
      • Where can I store my $RMRK tokens?
      • Can I stake my $RMRK tokens?
      • What is the utility of $RMRK tokens?
      • Will RMRK have its own blockchain?
      • Why is $RMRK moving away from Statemine?
      • Where can I find current partnerships with RMRK?
      • How can I move my xcRMRK tokens to and from Ethereum?
      • How to move RMRK from a Centralized Exchange (CEX) to Statemine
      • How to move RMRK from Statemine to Moonriver
    • Singular
      • Understanding Singular
        • What is the difference between Singular and Kanaria?
        • Is Singular eco-friendly?
        • Is there a priority status between RMRK and KSM, and will it affect how I sell my work?
        • Why you should mint on Singular
      • Managing Identity
        • What is the means of identification?
        • What is an on-chain identity?
        • Why should you create an on-chain identity?
        • How do you create an on-chain identity?
        • How to cryptographically sign a message
      • Creating, Selling, Listing, and Gifting NFTs
        • How to setup your wallet
        • How to get KSM
        • How to mint an NFT
        • How to sell an NFT
        • How to gift an NFT
        • How to list, burn, and gift multiple NFTs in one transaction–batch operations
        • Best practices for success
        • Tips for launching a successful collection
        • How to clone an NFT on Singular
        • How to accept a new resource on your NFT
      • Verification, Copyright, and Plagiarism
        • What is copyright?
        • What is plagiarism?
        • Singular verification and plagiarism
        • How do I get verified?
      • I can't view my Polkadot-JS account in Singular
    • Kanaria
      • What is Kanaria?
      • The Hou-ou Festival
      • All about genesis gems
    • Skybreach
      • General
        • I'm new. What is Skybreach?
        • What tech is used to build Skybreach?
        • Will Skybreach be in 3D?
        • Will I be able to interact with Skybreach on mobile?
        • On which chain will skybreach be built on?
        • My NFT is not built using RMRK protocol. Can I use it on Skybreach?
        • Where can I access metaverse land map?
        • Where will skybreach gaming components be hosted?
        • When will Skybreach be launched?
        • What are the utilities of gems in skybreach?
      • Land
        • General
          • What is land?
          • What can I do with land?
          • What are Skylands?
          • What is a biome?
        • How does world decay work?
        • How does adjacency bonus work?
        • How does movement work in Skybreach land?
        • What are harberger Taxes?
      • Land sale
        • When will land sale begin?
        • Which wallet can I use for land sale?
        • Where can I get RMRK tokens for land sale?
        • Will all skylands be available for landsale?
        • What will be the price of land?
        • How do I participate in land sale?
        • I have a voucher. how do I use it?
        • What is the deadline for usage of land deed vouchers
        • Will kanaria owners be given land deed vouchers for sale of future skylands?
        • Do you have a referral program for land sale?
        • How do I make an offer for land?
        • How do I cancel an offer?
        • How do I retrieve my Escrowed Tokens?
      • Chunkies
        • Where can I learn about chunkies
RMRK FAQ
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What are NFTs?
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What are NFTs?

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NFT stands for Non-Fungible Token.
The concept of fungibility can only be applied to a group of items. For a group of items to be fungible means that every member of this group is identical to the other, such that no member possesses any individuality.
This means that every member of that group can always be traded for another member without any friction. Some fungible tokens include fiat money, BTC, ETH, and DOT.
BTC is regarded as a fungible token because every BTC is created equal. Further, no BTC is different from another BTC (with certain exceptions we won't get into). The same goes for all the fungible tokens in the crypto-sphere.

Now, if fungibility is the quality of a thing to be interchangeable with other members of its group, then non-fungibility is its ability to have an identity, to be unique. That is all there is to it.
Thus, a non-fungible token is a token that is unique unto itself, so long as only one copy was minted (created) when it was added to the blockchain. So when you hear of NFT collections today, it usually means that they are a group of art pieces composed of unique individuals.
But NFTs are more than just art. It is best to think of NFTs as a sort of new technology. The main point is that they can be used to proof ownership of anything—art, code, films, music, and much more.


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