The interchangeability of NFTs is guaranteed through their use of smart contracts and blockchain technology.
Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into code. They include predefined rules and regulations that dictate the terms and conditions of the NFTs, including their ownership, transferability, and authenticity.
The blockchain ensures that each NFT is unique and cannot be duplicated or altered. Each NFT has a unique digital signature that is stored on the blockchain, which is a decentralized ledger that records every transaction. This provides a level of transparency and immutability that ensures that NFTs cannot be replicated or tampered with.
Because each NFT is unique and has a verifiable history on the blockchain, they can be traded or exchanged with confidence that they are authentic and have not been altered. This provides the necessary guarantees for the interchangeability of NFTs.
