NFT MCQ
- It is a type of cryptocurrency
- It is a type of smart contract
- It is a physical token used for authentication
- It is a unique digital asset that represents ownership of a digital item
- NFTs are fungible
- NFTs are interchangeable
- NFTs are physical tokens
- NFTs are non-interchangeable and non-divisible
- A tweet
- A barrel of oil
- A kilogram of gold
- None of the above
- Buying and selling of NFTs
- Creation of new NFTs
- Conversion of NFTs into physical assets
- All of the above
- NFTs are physical tokens, while cryptocurrencies are digital
- NFTs are used for authentication, while cryptocurrencies are used for transactions
- NFTs are non-interchangeable and non-divisible, while cryptocurrencies are fungible
- NFTs represent ownership of a digital item, while cryptocurrencies are a medium of exchange
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- Anonymity and security
- Ownership and scarcity
- Flexibility and scalability
- Privacy and decentralization
- Cloud
- Physical location
- Centralized server
- Decentralized blockchain
- by mining
- by buying
- via smart contract
- by a central authority
- Determined by its utility
- Determined by its rarity
- Determined by market demand
- None of the above
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- Real-estate
- Gaming items
- Digital Collectible
- All of the above
- True
- False
- One
- Two
- More than one
- None of above
- It is used as in-game currency
- It is used as unique and collectible items
- It is used to represent virtual real estate
- All of the above
- It is used to represent digital artworks
- It is used to represent physical artworks
- It is used to represent ownership of a physical artwork
- All of the above
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- ERC-721 tokens are non-fungible, while ERC-20 tokens are fungible
- ERC-721 tokens are used for NFTs, while ERC-20 tokens are used for cryptocurrencies
- ERC-721 tokens are used for smart contracts, while ERC-20 tokens are used for transactions
- All of the above
- By checking the NFT's physical attributes
- By checking the NFT's smart contract code
- By checking the blockchain transaction history
- None of the above
- By creating unique, non-fungible tokens
- By registering the ownership on blockchain
- By allowing the buying and selling of NFTs on marketplaces
- All of the above
- NFTs are stored on a blockchain
- NFTs are unique, non-fungible assets
- NFTs can be bought and sold on marketplaces
- All of the above
- NFTs are used to represent ownership of a virtual property
- NFTs are used to represent ownership of a physical property
- NFTs are used to represent access to exclusive real estate content
- All of the above
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