Non-fungible tokens, known as NFTs, are digital assets that are stored and recorded on the blockchain. This means that the ownership and authenticity of an NFT can be verified, tracked, and transferred without replication. Non-fungible, meaning you cannot copy. The digital asset is verified uniquely 1 of 1. NFTs are most popularly known as art including the famous Bored Ape Yacht Club. They can also represent digital trading cards, in-game purchases, a video, or even a tweet. Some brands are authenticating physical goods, such as sneakers and jewelry, and pairing them with a digital NFT for recording on the blockchain.
NFTs are often purchased on marketplaces such as OpenSea, Rarible, and Magic Eden.