An NFT (Non-Fungible Token) is a unique digital asset that represents ownership or proof of authenticity of a specific item or piece of content, typically stored on a blockchain (usually Ethereum).

Key Features:

• Non-fungible: Unlike cryptocurrencies like Bitcoin or Ethereum, NFTs are unique and not interchangeable on a one-to-one basis.

• Blockchain-based: Most NFTs live on the Ethereum blockchain, which tracks their ownership and transaction history.

• Proof of ownership: NFTs can be tied to digital art, music, videos, virtual real estate, game items, and even tweets.

• Smart contracts: NFTs often include smart contracts that handle resale royalties for original creators.