CoinucationNFT
An NFT, or non-fungible token, is a unique blockchain token that records ownership of a specific digital item such as art, a collectible, or a domain name.
A non-fungible token is a token with a unique identity. Fungible tokens like USDC are interchangeable, so one unit is the same as any other. Each NFT has its own ID and metadata, which makes it suitable for representing one-of-a-kind items. The most common standard is ERC-721 on Ethereum, with related standards on Solana and other chains.
NFTs became famous in 2021 with digital art and profile picture collections such as CryptoPunks and Bored Ape Yacht Club, some of which sold for millions of dollars. Monthly trading volume peaked in early 2022 and then fell by more than 90 percent during the bear market. The underlying technology is also used for event tickets, in-game items, blockchain domain names, and membership passes.
Owning an NFT means owning a token on a blockchain that points to a piece of content. The content itself is often stored elsewhere, and the token does not automatically grant copyright. Buyers should check where the media is hosted and what rights the project's terms actually confer.
What is an NFT? covers this in 6 minutes, with a quiz at the end.