Tory Lanez Just Broke All The Rules!
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The rapper, singer-songwriter and producer launched his first NFT-based album titled “When It’s Dark” on August 10. Rolling out one million copies to the public, Tory Lanez sold all in just 60 seconds. Many were frustrated about their inability to get their hands on the album dubbed “the first-ever music streaming NFT.” Luckily, there is a silver lining. The E-NFT marketplace is dropping another round of NFTs on August 24 at 5 p.m. ET People are asking Google what NFTs are. NFT stands to non-fungible token. But what does it actually mean? Let’s first look at what “nonfungible” actually means.
A good that is easily swappable for another good in the same asset category is called “fungible”. You won’t likely say “Hey, that’s unfair!” if you swap $100 for five $20 bills. They have the same value. The US dollar is therefore fungible. Dogecoin, Ethereum and other cryptocurrencies are also fungible. You can exchange one Bitcoin for the next without having to step on any toes.
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