NFT is the abbreviation of “non-fungible token”.

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This means, in short, that each NFT has a digital signature, making it impossible for one to be exchanged for any equal digital token (hence, non-fungible). Therefore, every non-fungible token represents the ownership of something unique.​

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A NFT is created or “minted” through a so-called “smart contract” from data that can represent both tangible or intangible items. They exist on a blockchain, which is a distributed public ledger that records transactions.