NFT stands for Non-Fungible Token. An NFT can neither be replaced nor interchanged because of its unique properties. NFTs are digital assets that can represent digital collectibles, art, music, games, etc. with a built-in certificate of authenticity, enabled by blockchain technology.
NFTs live on the blockchain. OpenSea (opensea.io) is the largest NFT marketplace in the world. NFTs can only have one owner at a time, and blockchain technology makes it easy to verify ownership and transfer ownership between owners. NFT can only be sent before they are activated. Once activated they can no longer be sent. Because NFTs are generally one of a kind, they can appreciate as buyers compete for one-of-a-kind items or assets in short supply