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NON-FUNGIBLE TOKENS: THE GLOBAL LEGAL IMPACT - Clifford Chance

• Non-fungible token (NFT) An NFT is a unique cryptoasset that represents rights to an underlying ‘tokenised’, often digital asset, which is created and transferred using DLT. This contrasts with many existing cryptoassets, including cryptocurrencies like Bitcoin, which are fungible or interchangeable. • Smart contract