# NFT

> A token that represents ownership of a unique item, like a piece of digital art or a ticket.

Canonical URL: https://business.fudfomo.co/glossary/nft
Source: What The Block! Dictionary v1.0 (last updated 2026-04-25), browsable at https://wtb.fudfomo.co.

## Definition

NFT stands for non-fungible token. The non-fungible part means each one is unique and cannot be swapped one-for-one for another, the way a five-pound note can be swapped for any other five-pound note.

NFTs are used for digital art, music, in-game items, event tickets, and ownership records. Buying an NFT does not always mean you own the underlying copyright. It usually means you own a record on the blockchain that points to the item.

## Related terms

- [Token](https://business.fudfomo.co/glossary/token): A unit of value created on top of an existing blockchain like Ethereum.
- [Smart Contract](https://business.fudfomo.co/glossary/smart-contract): A program that runs on a blockchain and does what it says, automatically.
- [Ethereum](https://business.fudfomo.co/glossary/ethereum): A blockchain that lets developers build apps and issue tokens. Often called a programmable money platform.

## See the full catalogue

What The Block! covers more than 2,000 plain-English crypto terms, delivered as embeddable hover-state tooltips for crypto exchanges. https://wtb.fudfomo.co