An NFT, or non-fungible token, is a unique digital asset recorded on a blockchain that certifies ownership and authenticity of a specific item, typically digital content like art, music, videos, or collectibles
. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and interchangeable, each NFT is unique and cannot be replaced or exchanged on a one-to-one basis with another NFT
. NFTs function as digital certificates of ownership, providing a transparent and tamper-resistant record that verifies who owns the associated digital item
. However, owning an NFT does not necessarily grant copyright or intellectual property rights to the underlying asset; it primarily represents proof of ownership of the token itself on the blockchain
. They have been widely used in digital art, collectibles, gaming, music, and even tokenizing real-world assets like real estate
. NFTs can be bought, sold, and traded on various digital marketplaces, and their value is determined by market demand
. In summary, an NFT is a blockchain-based digital token that uniquely identifies and proves ownership of a specific digital or physical asset, making it distinct from other tokens or cryptocurrencies
