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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 ?
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only '
(d) 1, 2 and 3



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Statement 3 may be wrong since the word Non-fungible itself insinuate that it cannot be used as a medium of exchange because it will not be divisible easily and its individual parts value will not equal to each other. So mutual substitution will difficult therefore number3 is wrong and by elimination answer should be “A”.


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