Factory unlocked iPhone 5 on verizon?

I recently found and iPhone 5 for a good price but it said it is factory unlocked. I have a small understanding of what the means but I don't totally get it. Will it work with verizon? I guess that's the main thing I'm asking.

The Verizon iPhone 5 is factory unlocked, meaning it will work with any GSM carrier in the world. Of course as Verizon sells it under their banner it will work with them as well.

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