NFT: Types, Benefits, and Use Cases What is an NFT? The NFT abbreviation stands for Non-fungible token - a non-interchangeable, or even simpler, unique token. This is a digital asset that is provably unique. NFTs can be used to represent both tangible and intangible items. They first emerged back in 2017 on the Ethereum blockchain platform. However, unlike bitcoin, ether, and other cryptocurrencies, NFT is a one-of-a-kind object with its own price. To make things easier, let`s take an apartment as an example. Imagine that you are buying an apartment. Information about the purchase is recorded in the state register including the data about the new owner of the apartment, transaction date, etc. Basically, that`s how NFTs work. They certify the object of digital space belongs to you. And just like with an apartment, you can sell it to anyone at any price. In fact, you normally sell not the object itself but only a unique token that references it. NFTs can be whatever you want, from ...