What is NFT?

NFT (non-fungible token) is a type of digital content, stored on the blockchain, that is often a copy of real-world items like a real estate: monuments, buildings, streets, as well as other real world things, like artwork. While it uses the same technology that underpins other digital assets like cryptocurrency, NFT, on the other hand, is generated as a unique item which implies that they are non-interchangeable (non-fungible) among each other. It is also the absence of interchangeability that distinguishes NFTs from cryptocurrency, which on the other hand, are interchangeable.