Attempt this previous-year question. The correct option stays hidden until you choose.
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?
Pick an option to check yourself.
• Correct Answer: A
• NFTs are unique blockchain tokens representing physical or digital assets with immutable ownership proof.
• Statement 3 is incorrect: NFTs are non-fungible and cannot be exchanged at equivalency like currency.
Attempt Prelims MCQs or open Mains questions by paper — then continue the same bank inside the app with visual decks.
GyanGram