NFT (non-fungible token) is a unique digital asset recorded on the blockchain. Unlike regular tokens or cryptocurrencies, each NFT has individual characteristics and cannot be replaced by another NFT one-to-one.
In practice, this means that an NFT can represent a unique item: digital art, an event ticket, a certificate, an in-game item, and much more. The main feature is the confirmation of authenticity and ownership rights. If the token is in your wallet — you are the owner.
Why all the fuss? In 2021-2022, NFTs became associated with crazy prices for pictures of monkeys, speculation, and scam projects. But beneath the hype, the essence is lost: NFTs are a tool. They are neutral in themselves. Their value is determined by their application.
NFT is not just about art. Today, they are used in various fields:
-Gaming industry: NFTs can represent in-game items, skins, weapons, which truly belong to the player and can be sold outside the game.
-Music and media: artists release albums as NFTs, providing exclusive access to content or bonuses.
-Identification and documents: NFTs can be used as digital IDs, diplomas, or certificates.
-Ticketing: event tickets as NFTs not only solve the problem of counterfeiting but also allow the creator to earn from resales.
-Royalties and copyright: NFTs can automatically pay royalties to the creator on each resale.
And all of this works thanks to smart contracts — programmable logic embedded in the blockchain.
NFTs are not about 'expensive JPEGs', but about the ability to prove uniqueness and ownership in the digital space. This can be especially important in the age of AI and digital content overproduction.