What is an NFT?
NFT stands for non-fungible token. Non-fungible is an economic term that you could use to describe things like your collectibles, an .mp3 file, or your iPhone.
NFTs are tokens that you can use to represent ownership of unique items. These NFTs can only have one official owner at a time and no one can modify the record of ownership or replicate a new NFT into existence.
Fungible items, on the other hand, can be exchanged because their value defines them rather than their unique properties. For example, $50 or 2ETH can be exchanged for another $50 or 2ETH. Non-fungible items are not exchangeable for other items because of their unique properties.
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