What is an NFT?

Summary

NFTs (Non-Fungible Tokens) represent unique digital ownership on a blockchain. This lesson explains fungibility, what makes NFTs different from regular tokens, how they are minted, and why ownership is recorded on-chain.

Key Concepts

Things To Remember

• NFT stands for Non-Fungible Token — each one is unique and not interchangeable.
• NFTs prove digital ownership on a blockchain.
• The NFT is a token; the associated file (art, music) is usually stored off-chain.
• Owning an NFT does not necessarily mean owning the copyright to the underlying work.

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