NFT

NFT stands for Non-Fungible Token and refers to unique one-of-a-kind digital assets or tokens stored on a cryptocurrency blockchain such as Ethereum. Fungibility refers to an item’s ability to be swapped by something of like kind, for example, swapping one bitcoin for another. A non-fungible token (NFT) cannot be replaced by another item since NFTs are 100% unique. The most common crypto blockchain for NFTs is Ethereum (ETH), with the ERC-721 and ERC-1155 innovative contract standards being the most common type of Ethereum NFT. Examples of popular NFT assets include JPEGs, GIFs, PNGs, MP4s, MP3s, WAVs, and any virtual or digital item.