#CryptoDictionary. What is NFT? NFT (non-fungible token) – is a unique cryptographic token that runs on a blockchain. It cannot be exchanged for another, unlike cryptocurrency, money, or stocks.
NFT is the digital certificate for any unique item: texts, images, digital works of art, game objects or characters, domain names, etc. Non-fungible tokens secure ownership of digital goods to the user in the same way that public registers protect our ownership of tangible property in real life. This digital ownership is confirmed by an irreversible transaction in the blockchain network.
The first non-fungible tokens were created by Witek Radomsky, co-founder of Enjin Coin, in June 2017. However the popularity of NFTs arose from the game CryptoKitties.
Interesting fact: almost 30% of the NFT market is currently represented by the art segment. NFTs can be used in various fields, from real estate to music.