➢ An NFT – or Non-Fungible Token – is an electronic token that represents ownership or authenticity of a unique asset, be it digital art, photos, videos, video game items etc. The reason they are called “non-fungible” is to differentiate them from “fungible” assets, like currency, which are interchangeable. An easier example is to think of a dollar – it can be traded for any other dollar – they’re all the same. A piece of art on the other hand, is unique and not interchangeable in the same way.
