A non-fungible tokenTokens are created and distributed on a blockchain and can represent a variety of assets or utilities, including commodities, loyalty... Read More (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... Read More 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... Read More and ownershipEvery transaction and block on a blockchain has an owner. An owner is any entity (person, group, or organization) with... Read More within a blockchainAs a distributed ledger technology (DLT), a blockchain is a digital ledger that can create an immutable record of transactions.... Read More. 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,... Read More, 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
