What is an NFT?

An NFT, or non-fungible token, is a type of digital asset that is unique and cannot be replicated or exchanged for something else of equal value. NFTs are commonly used in the world of cryptocurrency and blockchain technology to verify the authenticity and ownership of digital assets, such as artwork, collectibles, and other forms of digital media. Because each NFT is unique and cannot be replicated, they are often seen as a way to establish ownership and scarcity in the digital world.