what is an nft

An NFT, or non-fungible token, is a unique digital identifier recorded on a blockchain that certifies ownership and authenticity of a specific digital asset, such as artwork, music, videos, or in-game items. Unlike cryptocurrencies, NFTs are not mutually interchangeable, and each NFT is one of a kind, making it impossible to be replaced or replicated. NFTs can be bought, sold, and traded, and their ownership is recorded in the blockchain, allowing for easy verification and transfer between owners. While NFTs have generated excitement, their legal rights and value can be uncertain, and they have been criticized for their volatility and susceptibility to scams