What is an NFT?

In general, an NFT, or nonfungible token, is a digital contract, a “marker,” that indicates who owns a digital asset and who is its creator. This contract is stored on the blockchain.

There are many different ways to use this concept and technology. For instance, you can create digital art and sell it. Sometimes, creators combine art and utility. Some NFTs work as tickets to a private club; some can be a digital assent within a game; some work as a proof of ownership for things in the real world.