NFT stands for non-fungible token. An NFT is a digital asset that represents real-world objects like art, music, GIFs and videos. They are bought and sold online with cryptocurrency and they are encoded on a blockchain. NFTs are generally one of a kind and have unique identifying codes. Anyone can view the individual images for free. But an NFT allows the buyer to own the original item and offers exclusive ownership rights. An NFT can have only one owner at a time, and it contains built-in authentication, which serves as proof of ownership.

Although other blockchains support them as well, NFTs are typically held on the Ethereum blockchain, which is a distributed public ledger that records transactions. NFTs’ unique data makes it easy to verify their ownership and transfer tokens between owners. The owner or creator of a particular NFT can store specific information inside the token in an NFT's metadata. To start collecting NFTs, one needs a digital wallet that allows storing NFTs and cryptocurrencies. Once the wallet is set up and funded, shop the largest NFTs marketplaces.