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NFTs (non‑fungible tokens) reshape our notion of ownership in several fundamental ways: | Aspect | Traditional Ownership | NFT‑Based Ownership | |--------|----------------------|----------------------| | **Uniqueness** | Usually tied to a physical object or a legal title; many copies of the same asset can exist (e.g., prints of a painting). | Each token is cryptographically unique on a blockchain, guaranteeing a single, provable instance of the asset. | | **Proof of Authenticity** | Relies on c

Synthetic assets are tokenized representations of real‑world or on‑chain assets that track the value of something else without holding the underlying asset directly. In DeFi they are created by smart contracts that lock collateral and issue a derivative token whose price mirrors the target exposure. **Key characteristics** | Feature | Description | |---------|-------------| | **Underlying reference** | Could be a fiat currency (e.g., US $), a commodity (gold, oil), an index (S&P 500), another