NFT as Certificates of authenticity of a digital work NFT stands for Not Fungible Token, where ‘Not Fungible’ means unique and irreplaceable. For example, a bitcoin is fungible: if we exchange one bitcoin for another, we will have exactly the same thing. However, a work of art certified with an NFT is not fungible. If we exchange it with another one, we will have something completely different. Most NFTs are part of the Ethereum blockchain. In this system purchases are made through cryptocurrencies.
A non-fungible token (NFT) is a unit of data stored on a digital ledger, called a blockchain, that certifies a digital asset to be unique and therefore not interchangeable.
NFTs can be used to represent items such as photos, videos, audio and other types of digital files. Access to any copy of the original file, however, is not restricted to the buyer of the NFT. While copies of these digital items are available for anyone to obtain, NFTs are tracked on blockchains to provide the owner with a proof of ownership that is separate from copyright.