What Is NFT (Non-Fungible Token)? Meaning & Example
Definition
An NFT is a unique digital token that represents ownership of a specific item, such as artwork or a collectible. Unlike regular coins, each NFT is distinct.
Related terms
A token is a digital asset created on an existing blockchain, often using smart contracts. Tokens can represent currencies, voting rights, access to a service or other assets.
Smart ContractA smart contract is a program stored on a blockchain that runs automatically when set conditions are met. It powers DeFi, NFTs and many other applications.
EthereumEthereum is a blockchain platform that runs smart contracts and powers many decentralized applications. Its native coin is used to pay transaction fees.
What is NFT (Non-Fungible Token)?
An NFT is a unique digital token that represents ownership of a specific item, such as artwork or a collectible. Unlike regular coins, each NFT is distinct.
Can you give an example of NFT (Non-Fungible Token)?
A digital artist might sell a one-of-a-kind artwork as an NFT with ownership recorded on a blockchain.