An NFT — non-fungible token — is a token that is one-of-a-kind: each one has a unique identifier and metadata, so it can represent a specific item (art, collectible, membership, in-game asset) instead of being interchangeable like a dollar. Most live on Ethereum via the ERC-721 standard. Why it matters NFTs proved that blockchains can own *individual* things and not just fungible money. Most NFT "value" collapsed in speculating, but the underlying idea — provable, portable digital ownership — is still quietly building the real Web3 economy. Related terms token · smart contract · blockchain
An NFT — non-fungible token — is a token that is one-of-a-kind: each one has a unique identifier and metadata, so it can represent a specific item (art, collectible, membership, in-game asset) instead of being interchangeable like a dollar. Most live on Ethereum via the ERC-721 standard.
Why it matters
NFTs proved that blockchains can own *individual* things and not just fungible money. Most NFT “value” collapsed in speculating, but the underlying idea — provable, portable digital ownership — is still quietly building the real Web3 economy.
Related terms
token · smart contract ·
blockchain