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What do you really 'own' when you buy an NFT?

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Published Sun, Apr 3, 2022 · 09:50 PM

    A common question that has arisen among folks who have bought non-fungible tokens (NFTs) and those who are looking to buy, is: "What do I really own when I own an NFT?"

    This question is even more pervasive now after a recent parliament session, where Finance Minister Lawrence Wong announced that Singapore's income tax rules will soon consider NFT transactions.

    An NFT is an image or media backed by a unique digital key or a property title, visible transparently to everyone because it's on the blockchain.

    Artsnon-fungible tokens (nft)

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