NFT stands for Non-Fungible Token. It is a type of digital asset that represents ownership or proof of authenticity for a unique item or piece of content using blockchain technology. Unlike fungible tokens, such as cryptocurrencies like Bitcoin or Ethereum, which are interchangeable with each other and have the same value, NFTs are unique and cannot be exchanged on a one-to-one basis. NFTs are typically used to represent ownership of digital or digitized assets, including but not limited to digital art, music, videos, virtual real estate in online games, and other forms of digital content. Each NFT is stored on a blockchain, which is a decentralized and secure digital ledger. The blockchain ensures the scarcity, authenticity, and ownership of the digital asset by recording the transaction history and details related to the NFT. One key feature of NFTs is that they enable creators to monetize and sell their digital works in a way that wasn’t easily possible before. When someone purchases an NFT, they are essentially buying the ownership and authenticity rights to a specific digital item. NFTs have gained significant attention and popularity in the art world, as artists can tokenize their digital creations, providing a new avenue for creators to reach a global audience and monetize their work.