What is NFT?
A non-fungible token (NFT) is a unit of data stored on a digital ledger or spreadsheet, called a blockchain. The blockchain certifies a digital asset to be unique. NFTs can represent items such as artwork, photos, videos, audio, and other types of digital files. Copyright generally remains with the creator or author. Access to a copy of the original filecan be granted to the buyer of the token. NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright while copies of these digital items are available for anyone to obtain.
NFT are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.
Although NFTs have been around since 2014, they are gaining notoriety because they are becoming an increasingly popular way to buy and sell digital artwork.