Non-Fungible Token (NFT)

A variety of uninterchangeable crypto assets known for being unique and used to represent digital art.

A non-fungible token (NFT) is a crypto asset that represents an asset in the real world, usually in the form of art. NFTs are always unique, meaning that there are no two identical tokens, even though they might share similar qualities such as color and shape. NFTs are also not interchangeable, a quality which solidifies their position as unique tokens which only have a representative purpose.

Although there are different applications of NFTs in the world of cryptos, the most traditional application is their use to stand in for digital art. However, NFTs can be created and sold, and some of them have been sold for a lot of money.

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