Meaning of NFT

NFT stands for Non-Fungible Token. It's a type of digital asset that represents ownership or proof of authenticity of a unique item or piece of content, such as digital art, videos, music, collectibles, and more, using blockchain technology. Unlike cryptocurrencies like Bitcoin or Ethereum, which are fungible and interchangeable, each NFT is distinct and cannot be replicated. This uniqueness and verifiable ownership make NFTs valuable in digital markets, allowing creators to sell their work and buyers to own exclusive digital items.