An NFT (Non-Fungible Token) is a cryptographic token on the blockchain that defines a unique asset. In simpler terms, an NFT is a digital asset or digital collectible. This unique asset can represent tangible or intangible items, including music, art, and real estate, among others. An NFT is unique (hence, non-fungible) and it cannot be directly replaced by another token. The NFT contains specific information (metadata) that is recorded in smart contracts, which are easily verifiable on the blockchain network. When minted, NonFungible Tokens contain a built-in authentication audit trail, which serves as verifiable proof of ownership.
