Non-fungible tokens, known as NFTs, are one-of-a-kind non-interchangeable cryptographic tokens that exist on blockchains. NFTs differ from cryptocurrencies such as Bitcoin and Litecoin since they are 100% unique (non-fungible) and cannot be swapped or replaced with like-kind (fungible) items. There are many different types of NFTs emerging in Non-Fungible tokens. Examples of NFT types include digital crypto artwork (JPEGs, GIFs. PNGs), collectible trading cards, music (MP3s), videos (MP4s), physical real estate, property deeds, event tickets, tokenized invoices, legal documents, signatures, and even NFT domain names. NFTs exist on many of the world’s largest blockchains, including Ethereum, Solana, and Polygon. The NFT market is one of the fastest-growing industries in the world. There is a massive and rapidly growing NFT ecosystem which includes NFT marketplaces, NFT exchanges, NFT minting services, NFT data APIs, and more.
NFT Term
Non-Fungible Token (NFT)
Definition of Non-Fungible Token (NFT) from the NFTguild.com glossary.
