What Is An NFT ?

Also known as a "deed," this is a token standard introduced by the ERC-721 proposal. NFTs can be tracked and traded, but each token is unique and distinct; they are not interchangeable like ETH and ERC-20 tokens. NFTs can represent ownership of digital or physical assets.

NFTs are tokens that we can use to represent ownership of unique items. They let us tokenise things like art, collectibles, even real estate. They can only have one official owner at a time and they're secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence.

NFT stands for non-fungible token. Non-fungible is an economic term that you could use to describe things like your furniture, a song file, or your computer. These things are not interchangeable for other items because they have unique properties.

Fungible items, on the other hand, can be exchanged because their value defines them rather than their unique properties. For example, ETH or dollars are fungible because 1 ETH / $1 USD is exchangeable for another 1 ETH / $1 USD.

-Source : https://ethereum.org/en/nft/