With reference to Non-Fungible Tokens (NFTs), consider the following statements: 1. They enable the digital representation of physical assets. 2. They are uniqu

Question

With reference to Non-Fungible Tokens (NFTs), consider the following statements:
1. They enable the digital representation of physical assets.
2. They are unique cryptographic tokens that exist on a blockchain.
3. They can be traded or exchanged at equivalency and therefore can be used as a medium of commercial transactions.
Which of the statements given above are correct?

Accepted Answer

(A) 1 and 2 only

Answer

(B) 2 and 3 only

Answer

(C) 1 and 3 only

Answer

(D) 1, 2 and 3