noun
Internet Slang
NFT
EN-EFF-TEE · noun · informal
Non-fungible token — a unique on-chain ownership record.
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Definitions
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A Non-Fungible Token is a unique, non-interchangeable token on a blockchain used to represent ownership of a specific item such as art, collectibles, or in-game assets.
“He minted the NFT for 0.1 ETH and flipped it for ten times that.”
by community
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NFT In A Sentence
He minted the NFT for 0.1 ETH and flipped it for ten times that.
Origin & Usage
Ethereum token-standard concept (ERC-721) that exploded in 2021.
People Also Ask
What does NFT stand for?
NFT stands for non-fungible token, a unique token on a blockchain that represents ownership of a specific item like art, collectibles or in-game assets.
What does non-fungible mean?
Non-fungible means each token is unique and not interchangeable one-for-one, unlike a currency where every unit is identical.
When did NFTs become popular?
NFTs exploded in popularity in 2021, driven by digital art and profile-picture collections built on the ERC-721 standard.
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