NFT
An abbreviation for non-fungible token. Unlike most cryptocurrencies, which are fungible, NFT's defining characteristic is that they cannot be divided or split into multiple parts. NFTs can represent many things on the blockchain, such as digital art, music, memberships, real estate deeds, and more.
In a sentence
The artist issued the digital artwork as an NFT on Ethereum.
- The artist issued the digital artwork as an NFT on Ethereum.
- Each NFT in the collection had a unique token identifier.
- The wallet proved ownership of the NFT through the blockchain record.
- An NFT can represent art, membership access, a ticket, or another distinct asset.
- The buyer checked the contract address before purchasing the NFT from the marketplace.
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