NFTs differ from cryptocurrencies such as Bitcoin (BTC), Ether (ETH), or Cardano (ADA) which act as digital coins. NFTs are tokens that represent digital or physical assets – for example, a piece of art, music, or even potentially real estate – and contain additional information that a coin would not carry. What does NFT mean? A token is a unit of currency. A non-fungible token development cannot be exchanged for something else. NFT is a unique token that can be used to distribute and verify ownership via the blockchain.
These items can be either digital assets or physical assets. In 2012, the first Non-Fungible Token was introduced in the marketplace and gained more popularity. The unique nature of NFTs and the demand for the token helped to earn $174 million in November 2017.
