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)

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