NFTs, DAOs & Web3

What is the difference between an NFT and a cryptocurrency?

The difference is that a cryptocurrency is fungible, with each unit identical and interchangeable, while an NFT is non-fungible, representing a unique item that cannot be swapped one-for-one. A cryptocurrency works as a medium of exchange or store of value, where one unit equals any other. An NFT instead records ownership of a specific asset, such as digital art or a collectible. For example, one unit of a coin is the same as another, but each NFT in a collection is distinct. Both live on blockchains and are held in the same kind of wallet.