NFT (Non-Fungible Token)
A unique digital token that represents ownership of a specific item like art, music, or a collectible.
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Explained Simply
NFTs are tokens on a blockchain that are unique — each one is different, unlike Bitcoin where every BTC is the same. They're used for digital art, collectibles, gaming items, event tickets, and more. NFTs prove ownership and authenticity on-chain. The NFT market experienced a massive boom in 2021-2022 followed by a significant crash. When buying NFTs, watch out for scams, fake collections, and wash trading.
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This content is for educational purposes only and does not constitute financial, tax, or legal advice. Always consult a qualified professional for advice specific to your situation.