NFTs is an acronym for Non-Fungible Tokens.
Non-Fungible is in the sense that they are unique and cannot be interchanged like fungible assets such as Bitcoin. Let’s take for example if you exchange a Bitcoin to get another thing changed, but you still get the same Bitcoin back — it’s the opposite in the case of NFTs.
Each NFT has a distinct signature used to designate and verify ownership of assets — there are no two original copies.
NFTs are digital assets that are usually representations of real-world objects such as in-game items, videos, music, collectibles, virtual assets, and arts. These crypto assets are largely part of the Ethereum network. However, there have been other versions of NFTs implemented on other blockchains such as Algorand, Tron, WAX, Tezos, EOS, Solana, Cardano, Binance Smart Chain, Polygon and Flow.