NFTs stands for non-fungible tokens. These are digital assets that are unique and not interchangeable. They are different from fungible tokens, like Bitcoin, which are interchangeable and have a fixed value.
NFTs use blockchain technology, which is the same technology that powers cryptocurrencies like Bitcoin. Each NFT is stored on the blockchain and is assigned a unique digital signature, which verifies its authenticity and ownership. This allows individuals to own and trade unique digital assets, such as digital art, collectible items, and virtual real estate, in a way that is verifiable and secure.
NFTs can be bought and sold on various marketplaces, using cryptocurrency, and they have been gaining popularity in recent years as a way to buy, sell and trade unique digital assets.
One of the main feature of NFTs is that they can't be replicated, and therefore, once you buy an NFT you own the unique digital asset, and it can't be replicated. This is why they are valuable.
