An NFT is a Non-Fungible Token. These are tokens that represent ownership of unique items. They can only have one official owner at a time and they’re secured by the Ethereum Blockchain. No one can modify the record of ownership or copy/paste a new NFT into existence.
NFTs can be used to represent items such as:
- Artwork
- Game Item
- Music
- Virtual Land
- Domain Name
- Digital Fashion Piece
- Access Pass
- Virtual Pet
- Insurance Policy
Actually, anything ownable can be represented by these tokens.