NFT Non-Fungible Token

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Definition of 'NFT Non-Fungible Token'

An NFT, or Non-Fungible Token, is a unique digital asset that is verified on a blockchain, which is a distributed digital ledger that records transactions. Each NFT contains specific data that distinguishes it from any other asset, including other NFTs. This data could be an image, video, audio, or any other type of digital file. Because each NFT is unique and can be verified on the blockchain, it is considered to have value, and can be bought and sold like any other asset. NFTs have gained popularity in recent years in the art world, as artists are able to sell their digital works as one-of-a-kind pieces.

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