What is an NFT simply explained?

Non-fungible tokens (NFTs) are unique digital assets that are recorded on a blockchain and can represent real-world or digital items like art, music, videos, or real estate. NFTs are like digital certificates of ownership and authenticity for an asset, and they can’t be copied, substituted, or subdivided. They are different from cryptocurrencies because they have a digital signature that makes it impossible to exchange them for one another.

Non-fungible tokens (NFTs) are assets like a piece of art, digital content, or video that have been tokenized via a blockchain. Tokens are unique identification codes created from metadata via an encryption function.