NFT stands for Non-Fungible Token. An NFT cannot be replaced or exchanged because of its unique properties. NFTs are digital assets that can represent digital collectibles, art, music, games, etc., and include 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 have only one owner at a time, and blockchain technology makes it easy to verify and transfer ownership. NFTs can only be sent before they are activated. Once activated, they cannot be sent again. 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