What Is NFT?

A non-fungible token or 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. Per Wikipedia, 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 proof of ownership that is separate from copyright.

Check out an example of NFT from the artist Kasumi. Each piece of her work has been minted under a custom ERC-721 smart contract on the Ethereum blockchain, with NFT media and metadata stored on IPFS backed by Arweave.


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