pyq/2022/prelims/69

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