NFTs, DAOs & Web3

What is an NFT?

A non-fungible token (NFT) is a unique digital record stored on a blockchain that certifies ownership of a specific item, such as digital art, collectibles, or in-game assets. Unlike a cryptocurrency, where every unit is identical, each NFT carries its own identifier and cannot be swapped one-for-one with another. For example, two units of the same coin are interchangeable, but two NFTs from the same collection are distinct, often with different traits and values. The NFT records who owns the token; the underlying file may live elsewhere.