A Non-Fungible Token or NFT is a smart certificate that serves to tokenize permanently all sorts of artwork, music, in-game items, videos, and collectibles on a blockchain. ‘Non-fungible’ means that these tokens are unique and irreplaceable, hence their usefulness in tokenizing various forms of art.
Unlike fungible tokens like bitcoin or ether, NFTs are non-interchangeable with other NFTs. This offers lots of options for creating, selling, and buying digital assets, including original artwork and collectibles. Essentially, they’re like a physical collectible item, only in the digital form.