A Non Fungible Token is a unique digital asset that exists on a blockchain. On Ethereum, it is created using ERC1155 or ERC721 standard for non-fungible tokens, as opposed to ERC20 standard for fungible tokens. NFTs are used as a form of digital ownership to represent a unique asset. In a simple form, that asset could be on-chain code like @artblocks art, or a link to a jpeg like @bayc. In a more complex form, it could be a real world asset like property from @PropyInc or even a @tesla.
“My favourite NFT is whatever @punk4156 is shilling at the moment.”« Dictionary Menu