Non-Fungible Token (NFT)

A Non-Fungible Token is a type of digital asset that represents ownership or proof of authenticity of a unique item or piece of content, typically stored on a blockchain.
Unlike cryptocurrencies like Bitcoin, Solana, or Ethereum, which are fungible and can be exchanged on a one-to-one basis, each NFT has distinct information or attributes, making it unique and not interchangeable.
NFTs can be associated with digital art, music, videos, or even virtual real estate, providing a way for creators to monetize their work while offering buyers verifiable ownership. They often utilize smart contracts for automatic royalty payments to creators whenever the NFT is sold or transferred.
However, the value and utility of NFTs are highly debated, with critics pointing out issues like the speculative nature of their market. Unlike traditional assets, NFTs don't always have a clear intrinsic value, making their market value highly speculative and influenced by external perceptions and trends.