NFTs, or non-fungible tokens, provide proof of ownership of a one-of-a-kind digital asset or creation, such as art, collectibles, music, and videos, through the use of blockchain technology.
Each NFT is encoded with a unique key that distinguishes it from all other NFTs, making it a powerful tool for establishing and verifying ownership in the digital realm. NFTs operate like certificates or documents, containing information about the creator, purchase and sale history, current selling price, owner, and the actual image or digital art.
By providing a secure, transparent, and decentralised system for verifying ownership of digital assets, NFTs have revolutionised the way we think about value and ownership in the digital world.