Overview
An NFT (Non-Fungible Token) is a unique digital asset stored on a blockchain that represents ownership of a specific item, file, or piece of content. Unlike cryptocurrencies such as Bitcoin or Ether, NFTs are non-interchangeable and contain distinct metadata and identifiers.
Key Characteristics
- Uniqueness: Each token has a unique ID and metadata
- Indivisibility: Cannot be split like fungible tokens
- Ownership Proof: Blockchain confirms provenance and authenticity
- Smart Contract Standards: Commonly use ERC-721 or ERC-1155
Use Cases
- Digital art and collectibles
- Music and media rights
- Gaming assets and virtual goods
- Event tickets and memberships
- Academic and professional credentials
Related Context
