A unique digital token on a blockchain that represents ownership of a specific, one-of-a-kind item — unlike fungible tokens, where each token is interchangeable with any other. In real estate, NFTs have been used experimentally to represent ownership of individual properties, though most institutional tokenized real estate offerings use fungible security tokens rather than NFTs. NFT-based real estate ownership raises significant unresolved legal questions regarding title transfer and enforceability.
Non-Fungible Token (NFT)
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