Non-Fungible Token (NFT): A digital asset that represents real-world objects like art, music, in-game items, and videos on the blockchain. Each NFT is unique, or at least one of a limited run, and has unique identifying codes, distinguishing them from each other and from fungible tokens like cryptocurrencies. This uniqueness and scarcity give NFTs their value.

NFTs have transformed the digital art and collectibles market, allowing creators to monetize their work through direct sales to a global audience without intermediaries. Ownership of an NFT is recorded on the blockchain, ensuring authenticity and provenance.

“Scored an NFT from an up-and-coming digital artist! It’s not just about owning the art; it’s about being part of a new movement in creativity and technology.”