A Non-Fungible Token (NFT) is a unique and non-fungible (non-interchangeable) unit of data stored on a digital ledger (blockchain) that is a digital asset and represents real-world objects like art, music, in-game items, and videos. A NFT is bought and sold online, generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends. Each NFT has a digital signature that makes it different from other NFTs to be exchanged for or equal to one another (hence, non-fungible).

Related Definitions in the Project: The Commercial Definitions; Computer Technology