NFT stands for Non-Fungible Token. An NFT is a unique digital asset that represents ownership or proof of authenticity of a specific item or piece of content, such as digital art, music, videos, and even tweets. Unlike cryptocurrencies such as Bitcoin, which are fungible and interchangeable, NFTs are unique and cannot be replicated or exchanged for something else.
NFTs are typically created using blockchain technology, which allows for the creation of a digital ledger that records ownership and transaction information. This ensures that the authenticity and ownership of an NFT can be verified and tracked over time.
The popularity of NFTs has grown in recent years, with many artists, musicians, and other creators using them to sell and distribute their work. NFTs have also been the subject of high-profile sales, with some selling for millions of dollars at auctions.