{"id":90774,"date":"2025-06-01T10:36:24","date_gmt":"2025-06-01T10:36:24","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=90774"},"modified":"2025-06-01T10:36:24","modified_gmt":"2025-06-01T10:36:24","slug":"nowadays-nonfungible-tokens-are-talked-about-in-the-context-of","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/nowadays-nonfungible-tokens-are-talked-about-in-the-context-of\/","title":{"rendered":"Nowadays, ‘nonfungible tokens’ are talked about in the context of"},"content":{"rendered":"

Nowadays, ‘nonfungible tokens’ are talked about in the context of<\/p>\n

[amp_mcq option1=”digital assets on a blockchain” option2=”operations of ‘banking correspondents’ in rural areas” option3=”multifactor authentication security requirement in banking trans- actions” option4=”transactions through ‘small finance banks'” correct=”option1″]<\/p>\n

\n
\n
This question was previously asked in<\/div>\n
UPSC CAPF – 2022<\/div>\n<\/div>\n
Download PDF<\/a>Attempt Online<\/a><\/div>\n<\/div>\n
\nNon-fungible tokens (NFTs) are unique digital assets that represent ownership of a specific item or piece of media. They are stored on a blockchain, which is a decentralized digital ledger. The uniqueness and ownership of an NFT are verifiable through the blockchain.
\nOption A, “digital assets on a blockchain,” accurately describes the nature and technology underlying non-fungible tokens.
\n<\/section>\n
\nThe key characteristic of an NFT is its non-fungibility, meaning each token is unique and cannot be replaced or exchanged for another identical item (unlike cryptocurrencies like Bitcoin, which are fungible).
\n<\/section>\n
\nNFTs can represent various digital items such as art, music, videos, virtual real estate, and in-game items. They have gained popularity, particularly in the art and collectibles markets.
\n<\/section>\n","protected":false},"excerpt":{"rendered":"

Nowadays, ‘nonfungible tokens’ are talked about in the context of [amp_mcq option1=”digital assets on a blockchain” option2=”operations of ‘banking correspondents’ in rural areas” option3=”multifactor authentication security requirement in banking trans- actions” option4=”transactions through ‘small finance banks’” correct=”option1″] This question was previously asked in UPSC CAPF – 2022 Download PDFAttempt Online Non-fungible tokens (NFTs) are unique … <\/p>\n

Detailed SolutionNowadays, ‘nonfungible tokens’ are talked about in the context of<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1085],"tags":[1108,1113],"class_list":["post-90774","post","type-post","status-publish","format-standard","hentry","category-upsc-capf","tag-1108","tag-information-and-communication-technology","no-featured-image-padding"],"yoast_head":"\nNowadays, 'nonfungible tokens' are talked about in the context of<\/title>\n<meta name=\"description\" content=\"Non-fungible tokens (NFTs) are unique digital assets that represent ownership of a specific item or piece of media. They are stored on a blockchain, which is a decentralized digital ledger. The uniqueness and ownership of an NFT are verifiable through the blockchain. Option A, "digital assets on a blockchain," accurately describes the nature and technology underlying non-fungible tokens. The key characteristic of an NFT is its non-fungibility, meaning each token is unique and cannot be replaced or exchanged for another identical item (unlike cryptocurrencies like Bitcoin, which are fungible).\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/nowadays-nonfungible-tokens-are-talked-about-in-the-context-of\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nowadays, 'nonfungible tokens' are talked about in the context of\" \/>\n<meta property=\"og:description\" content=\"Non-fungible tokens (NFTs) are unique digital assets that represent ownership of a specific item or piece of media. They are stored on a blockchain, which is a decentralized digital ledger. The uniqueness and ownership of an NFT are verifiable through the blockchain. Option A, "digital assets on a blockchain," accurately describes the nature and technology underlying non-fungible tokens. The key characteristic of an NFT is its non-fungibility, meaning each token is unique and cannot be replaced or exchanged for another identical item (unlike cryptocurrencies like Bitcoin, which are fungible).\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/nowadays-nonfungible-tokens-are-talked-about-in-the-context-of\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-01T10:36:24+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Nowadays, 'nonfungible tokens' are talked about in the context of","description":"Non-fungible tokens (NFTs) are unique digital assets that represent ownership of a specific item or piece of media. 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