non-fungible tokens (NFTs)
Non-fungible tokens (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 transaction history are secure and transparent.
NFTs have gained popularity in various fields, including digital art, gaming, and collectibles. Artists and creators can sell their work directly to buyers, often receiving royalties from future sales. This new market allows for innovative ways to monetize digital creations while providing collectors with a way to own and trade exclusive items.