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Non-Fungible Tokens (NFTs) Redefining Digital Scarcity

created as standardized tokens that can be fungibly shared or exchanged for other tokens. This led to the creation of ERC-721 and ERC-1155. ERC-721’s framework was first built as the standard for non-fungible tokens on the Ethereum blockchain by storing unique identifiers for every token to track ownership and movements of the tokens. Cryptopunks