NFT stands for non-fungible token, meaning a token that is unique and not interchangeable. Each NFT can only have one official owner at a time and they’re secured by the blockchain - no one can modify the record of ownership or copy/paste a new NFT into existence. NFTs are tokens that we can use to represent ownership of unique items - art, collectibles, real estate, etc. As everything becomes more digital, NFTs replicate the properties of physical items like scarcity, uniqueness, and proof of ownership. (edited)
What is an NFT?
Written by Tim Gerst
Updated over a week ago
Updated over a week ago