What is a “nonfungible token,” or NFT?

WHAT IS AN NFT? WHAT DOES NFT STAND FOR?


Non-fungible token.


That doesn’t make it any clearer.

Right, sorry. “Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind