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NFT stands for non-fungible token. You have probably heard about NFT artworks changing hands for vast amounts of money and wondered what is going on. The idea behind them is that they can be used to transform items that have always previously been fungible (interchangeable) into something unique (non-fungible) and therefore valuable.

In effect, these digital certificates can turn an image that you would have previously been free to copy 10,000 times into 10,000 unique individual images, each one independently verified to be an individual.

Because NFTs are based on blockchain technology, they are highly secure and there is no problem identifying ownership. They can be applied to any asset, including books, videos, images, music, and more.