A non-fungible token (NFT) is a unique digital identifier recorded on a blockchain that certifies ownership and authenticity of a specific digital asset, such as artwork, photos, videos, music, or even real-world items like real estate
. Unlike cryptocurrencies such as Bitcoin, which are fungible and interchangeable, NFTs are non-fungible, meaning each token is unique and cannot be replaced or exchanged on a one-to-one basis with another NFT
. NFTs act as digital certificates of ownership and authenticity, secured by blockchain technology, which makes them difficult to counterfeit or alter. However, owning an NFT does not necessarily grant copyright or intellectual property rights over the associated digital file, nor does it prevent others from copying or sharing the digital content itself
. NFTs have been popularized mainly in the digital art world, allowing artists to tokenize and sell their works directly to collectors. They have also been used for collectibles, music, virtual real estate, event tickets, and more
. The market for NFTs saw explosive growth around 2020-2021 but has since experienced significant volatility and criticism related to speculative trading, environmental impact, and scams
. In summary, NFTs are blockchain-based tokens that represent ownership of unique digital or physical assets, providing a way to buy, sell, and trade these assets in a digital form with verified provenance
