NFT stands for Non-Fungible Token. To quickly break it down, a fungible token like the US dollar is not unique and each has the same perceived equal value. A non-fungible token like NFT Art, on the other hand, is considered unique and each has a unique value.
The uniqueness is achieved by each piece of art being minted on its own unique non-fungible token, NFT, which essentially impregnates a cryptocoin’s cryptography code with the digital artwork, the artist’s digital signature, royalty agreement and any other information the artist chooses to disclose.
NFTs can represent many different forms of unique digital or digitized items such as art, music, games, videos, tweets and more. Artists, musicians, influencers and more are flocking to the NFT scene.
NFT Art is Digital Art that you can own. For the first time in history, you can own exclusive rights to digital items like art and music thanks to Blockchain technology. Unlike traditional art, NFTs offers buyers more protection against counterfeiting and unauthorized reproductions, which further protects the buyer’s investment.