“Non-fungible” more or less means that it’s unique and can’t be replaced with something else

• NFTs can represent real-world items like artwork and real estate.
• "Tokenizing" these real-world tangible assets makes buying, selling, and trading them more efficient while reducing the probability of fraud.
• NFTs can also function to represent individuals' identities, property rights, and more.
• Collectors have sought NFTs as their value initially soared, but has since moderated.

• NFTs are digitally unique: By registering digital assets on a blockchain, unique ownership is granted as every NFT has its own identifier

• NFTs have publicly verifiable and traceable ownership: The token in your wallet proves that your copy of the digital file is the original, while your private key is proof-of-ownership of the original NFT

• NFTs are scarce: The creator of an NFT can decide how many replicas are minted 

NFTs function like cryptographic tokens, but, unlike cryptocurrencies like Bitcoin, NFTs are not mutually interchangeable, hence not fungible. While all bitcoins are equal, each NFT may represent a different underlying asset and thus have a different value.  

NFTs are created when blockchains string records of cryptographic hash, a set of characters identifying a set of data, onto previous records therefore creating a chain of identifiable data blocks. This cryptographic transaction process ensures the authentication of each digital file by providing a digital signature that is used to track NFT ownership