NFT (non-fungible token) is a type of data unit on what is known as a blockchain (digital ledger), where each token can represent a unique digital material. Because they are not interchangeable, non-fungible tokens can represent digital files, such as paintings, sounds, films, items in games, or other forms of creative works.

    While the files (works) themselves are infinitely reproducible, the tokens representing them are tracked on their underlying blockchain and provide proof of ownership for buyers. Cryptocurrencies such as ethereum and bitcoin have their own token standards to define the use of NFTs.

    NFTs are non-homogenized pass-throughs that map specific assets, essentially ethereum-based smart contracts that tokenize the user's ownership of a specific asset through the blockchain, making the NFT a recognized tradable entity for that specific asset, while the price of the NFT reflects the market's recognition of the value and scarcity of the asset mapped by that NFT.

    NFT (non-fungible token) is a type of data unit on what is known as a blockchain (digital ledger), where each token can represent a unique digital material. Because they are not interchangeable, non-fungible tokens can represent digital files, such as paintings, sounds, films, items in games, or other forms of creative works.

    While the files (works) themselves are infinitely reproducible, the tokens representing them are tracked on their underlying blockchain and provide proof of ownership for buyers. Cryptocurrencies such as ethereum and bitcoin have their own token standards to define the use of NFTs.

    NFTs are non-homogenized pass-throughs that map specific assets, essentially ethereum-based smart contracts that tokenize the user's ownership of a specific asset through the blockchain, making the NFT a recognized tradable entity for that specific asset, while the price of the NFT reflects the market's recognition of the value and scarcity of the asset mapped by that NFT.