What is an NFT?

What is an NFT?

An NFT is a digital asset that depicts art, items, music and/or videos. They are purchases and sold online, often with cryptocurrency, and they are usually encoded with the same software as many cryptos.

NFTs have been in existence since 2014, but have increased in popularity over the last few years as a way to buy and sell digital art. NFT is an acronym for Non-Fungible Token. NFTs are unique "one-of-a-kind" items in the digital world that can be purchased and sold like any other piece of property. But the purchaser of the NFT owns a digital token proving they are the owner of the digital artwork they purchased.

Some people compare it to buying an autographed print.

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