An NFT is a digital asset that resides on a blockchain, which is a distributed ledger of transactions. The blockchain acts as a public record, allowing anybody to check the legitimacy of the NFT and determine who owns it.
Unlike other digital objects, which can be mass-produced indefinitely, each NFT has a distinct unique identifier, making it one-of-a-kind.
NFTs can also be patches of land in virtual world environments, digital clothing, or exclusive use of a cryptocurrency wallet name.
The first tweet from Twitter boss Jack Dorsey – "just setting up my twttr" – sold for $2.9 million as an NFT in March.
