What Are Non Fungible Tokens (NFTs)? Non-fungible tokens (NFTs) represent assets such as artwork, digital content, or videos that have been tokenized through blockchain technology. These tokens are assigned unique identification codes generated from metadata via encryption algorithms, and while the actual assets are stored elsewhere, the token resides on the blockchain. This token-to-asset link is what gives NFTs their distinctive value.
NFTs can be bought, sold, or exchanged for money, cryptocurrency, or other NFTs, depending on the value attributed by the market or owners.