Non-fungible token

What is a non-fungible token (NFT)?

A non-fungible token (hereafter NFT) is a special type of cryptographic token whose individual units are essentially non-interchangeable (non-fungible).NFTs can represent something physical like a cup of coffee or something digital like airline upgrade points or intellectual property rights. NFTs provide three very important aspects: Digital ownership, interoperability and scarcity. On the Ethereum Virtual Machine, a NFT is also referred to as an ERC-721 or a collectible.