NFT is the acronym for non-fungible token.
An NFT is an asset issued on a blockchain which, unlike PLANETS or ALGOS, has some properties that make it unique.
💡 Real-word examples of non-fungible assets include personal IDs. You cannot use someone else’s passport to board a flight. That’s because passports are unique, i.e. non fungible, so they cannot be used interchangeably.
NFTs bring the notion of uniqueness into the digital world. They can be used to prove ownership of assets. By linking an NFT to a piece of digital art for instance, one can create a digital collectible – owning the NFT means owning the art. You can either hold it or sell it.