Non-Fungible Tokens, or NFTs, are unique digital assets that represent ownership of a specific item or piece of content, such as art, music, or videos. Unlike cryptocurrencies like Bitcoin or Ethereum, which are interchangeable and have the same value, each NFT has distinct characteristics that make it one-of-a-kind. This uniqueness is verified through blockchain technology, ensuring that the ownership and authenticity of the NFT can be easily tracked.
NFTs have gained popularity in the digital art world, allowing artists to sell their work directly to collectors without intermediaries. They can also be used for virtual real estate, gaming items, and even tweets. As a result, NFTs have created new opportunities for creators and collectors alike, transforming how digital content is bought and sold.