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NFT stands for Non Fungible Token.

NFT's are anything that cannot be exchanged for something else, this could be a movie ticket for a specific movie, the Mona Lisa or any other 1/1 item. In the crypto context NFT's are pieces of digital art, game assets, music and even domain names that are registered on the blockchain and bought and sold with crypto coins. This is a basic overview, dig into the below resources for more insight.



Above: Bored Ape Yacht Club BAYC




 

Merriam Webster Definition:

non-fungible token (noun) non-fun·​gi·​ble token | \ ˌnän-ˈfǝn-jǝ-bǝl- \

plural non-fungible tokens also nonfungible tokens


"a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership (as of a specific digital asset and specific rights relating to it)Non-fungible tokens … are electronic identifiers confirming a digital collectible is real by recording the details on a … database known as a blockchain."


WAGMI 100 Note:

What is fungible?

50$USD is fungible because it can be swapped for another $50 note or 5x $10.

Therefore something "non-fungible" Is entirely unique and cannot be swapped or replaced and please use blockchain to validate the authenticity of this unique item.


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