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What Is an Online NFT Casino?

2022-10-25
GamblingVerse
Before we dig into the definition of an online NFT casino, let us begin by describing “NFT” first. NFT is an acronym for Non-Fungible Token. It consists of digital data creations including pictures, videos, etc. The blockchain verifies and documents the value and copyright of these NFTs. Each NFT has its unique ownership code, which makes it distinct from other similar cryptographic assets. The ownership of an NFT can be transferred under one condition which is through the process of ‘selling’. Blockchain keeps the record of all official transactions that take place during the selling process. In order to understand the phenomenon of ownership, let us suppose an example from traditional art. People can get a printed copy of paintings by the famous artist, Bob Ross. However, only one individual can actually have the original piece of his work. Now let us come back to our original subject of discussion: online NFT casinos. The role of NFTs in an online casino is similar to the r... Lees verder