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What are "MFTs"?


Occasionally, you will see the neologism MFTs used to refer to music NFTs. 

However, using the term MFTs could have a utility beyond the simple distinction of music NFTs with respect to NFTs of any other kind: as discussed in the article What is the difference between between an NFT and a semi-fungible token?, not all items registered in the blockchain or a DLT are NFTs and this can also be observed in "MFTs".

It so happens that an NFT is a unique item; that is, there is no other like it. In this sense, a musical artist may release a unique and unrepeatable piece and offer it for sale. 

But artists can also create hundreds or thousands of copies of the same song and offer it for sale. In the latter case, clearly, these would not be NFTs, although they would be collectible items registered on the Ethereum blockchain, Polygon or BNB Smart Chain in the case of SPOZZ's multi-chain Marketplace.

So, when talking about "MFTs", one could arguably include both music NFTs and all music items created on some DLT (see What is the blockchain, DLT and what supports the authenticity of an NFT?).

 

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