What is NFT?

NFT stands for "Non-Fungible Token." It is a unique digital asset that represents ownership of a specific item or piece of content, such as artwork, music, or video, stored on a blockchain network. NFTs cannot be exchanged for something else of equal value, unlike cryptocurrencies (e.g. Bitcoin), which are fungible. This makes NFTs one-of-a-kind, allowing creators to monetize their digital creations and giving collectors a way to own and trade unique items in a secure and verifiable manner.

The benefits of NFTs include: