What is an NFT?
NFT (Non-Fungible Token)
An NFT, or Non-Fungible Token, is a unique digital asset stored on a blockchain that represents ownership of a specific item, such as art, music, videos, collectibles, or even virtual real estate. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are interchangeable (fungible), each NFT is one-of-a-kind, making it distinct and irreplaceable. NFTs contain metadata and smart contracts that verify their authenticity, provenance, and ownership, ensuring they cannot be duplicated or altered.
NFTs have gained immense popularity for their ability to tokenize and monetize digital content, offering creators a way to sell their work directly to buyers while maintaining a verifiable record of ownership. Additionally, many NFT marketplaces integrate royalty systems, allowing creators to earn a percentage of revenue from secondary sales.
