What is an NFT?

NFT stands for Non-Fungible Token. An NFT is a digital asset stored on the blockchain that links ownership to unique digital items, such as works of digital art, collectables, virtual reality items and more.

The difference between Fungible and Non-fungible tokens is that fungible items can be exchanged with one another with ease because their value defines them rather than their unique properties. An example of this would be Bitcoin. You can exchange 1 bitcoin for 1 bitcoin and you would have the same thing.

Non-Fungible means that it’s unique and can’t be replaced with something else. For example, a one-of-a-kind trading card if traded you would get a different card.