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Jeju Island in South Korea is reportedly looking at Non-Fungible Tokens (NFTs) as an avenue for growth. This comes as the island province aims to become a blockchain hub and build a vibrant digital currency ecosystem.
NFTs are unique digital assets that are stored on a blockchain. Unlike cryptocurrencies such as Bitcoin or Ethereum which are fungible and can be exchanged on a like-for-like basis, NFTs are unique and can verify ownership of a particular item or piece of content.