Non-Fungible Tokens (NFT) are unique tokenized representations of digital assets such as photos, videos, and audio files that are exchanged on public databases or blockchains. Distributed across networks of computers no single entity owns or controls the database while anyone can access the database, prove ownership, and transfer digital assets through the use of the private keys associated with their crypto wallet.
Unlike cryptocurrencies, NFTs are not fungible, meaning each NFT is unique and cannot be interchangeable with another NFT. This makes them truly unique and highly sought after to create a lucrative market for NFTs.
