Test Your Knowledge
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1. Which of the following best describes an NFT?
A) A token that represents a fungible asset.
B) A unique and irreplaceable token used to authenticate ownership of digital assets.
C) A type of cryptocurrency used for peer-to-peer transactions.
D) A digital token representing a physical asset, like real estate.
2. What is the primary difference between fungible and non-fungible tokens (NFTs)?
A) NFTs can be exchanged one-to-one, while fungible tokens cannot.
B) NFTs are unique, while fungible tokens are identical and interchangeable.
C) NFTs are used only for digital art, while fungible tokens are for gaming.
D) Fungible tokens are secured on Ethereum, while NFTs are not.
3. Which of the following is a famous example of an NFT collection?
A) Bitcoin
B) CryptoPunks
C) Ethereum
D) USDT