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NFT is not cryptocurrency, Ant Group says amid crackdown

Chinese giant says fungibility differentiates digital asset from altcoins

An NFT is a unique digital asset, whose ownership and authenticity are tracked on a blockchain.   © AP

Ant Group has released a statement explaining the differences between cryptocurrencies and non-fungible tokens (NFTs) after a successful sale of digital artwork on its Alipay platform sparked questions about whether the company was violating China's cryptocurrency rules.

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