Non-Fungible Tokens (NFTs) are a type of digital asset that are stored on a blockchain, which is a decentralized, public ledger. Unlike traditional cryptocurrencies, which are fungible and interchangeable with each other, each NFT is unique and represents a specific asset or item, such as a digital artwork, a tweet, a video clip, or a virtual real estate property.

NFTs have gained popularity in recent years, especially in the art world, where they are used as a way to authenticate and sell digital art. They allow artists to create, sell, and profit from their digital creations in a way that was not possible before.

While the concept of NFTs has been around for several years, it gained mainstream attention in early 2021 when a digital artwork by the artist Beeple sold for $69 million at a Christie’s auction. Since then, NFTs have been used in a variety of industries and for various purposes, including gaming, music, sports, and collectibles.