A non-fungible tokenTokens are created and distributed on a blockchain and can represent a variety of assets or utilities, including commodities, loyalty... (NFT) represents a single unique asset as a cryptocurrencyCryptocurrency is decentralized digital currency secured by cryptography. Cryptocurrency utilizes cryptographic protocols to record ownership and prevent counterfeits (when ownership... token. NFTs tokenize digital or real-world assets and function as verifiable proof of authenticityProof of authenticity is a digital record demonstrating that a piece of data is genuine and allowing one to verify... and ownershipEvery transaction and block on a blockchain has an owner. An owner is any entity (person, group, or organization) with... within a blockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions..... NFTs are not interchangeable with one another. Their use creates verifiable digital scarcityVerifiable digital scarcity refers to the verification that a good or service is scarce using blockchain technology. With a blockchain,..., making them suitable for representing items such as art, music, real estate, cryptocurrencies, or other virtual or physical assets.
See https://www.coingecko.com/en/glossary/non-fungible-tokens
