What is NFT (Non-Fungible Token)?

NFT (Non-Fungible Token) definition

NFT or Non-Fungible Token is a cryptographic token with a unique identification code and metadata. It exists on a blockchain and cannot be replicated. So, NFT is a digital asset that represents Internet collectibles like photos, music, game, and art. Ownership is recorded in the blockchain and can be transferred, sold, or traded.

Creators have already developed a wide variety of NFTs. Here is the list:

  • Digital artwork
  • Digital music
  • Photos
  • Virtual real estate and other digital objects used in games
  • Upselling physical consumer products like sneakers
  • Videos