NFT

An NFT, or Non-Fungible Token, is a special kind of digital item you can own, like a collectible card, a piece of art, or a song, stored on a blockchain (a secure digital record). The word “non-fungible” means it’s one-of-a-kind—there’s only one original version, and you can’t swap it for another NFT like you can with money or candy bars.

Think of an NFT like a rare Pokémon card. Even if someone takes a picture of your card, only you own the real one, and the blockchain proves it’s yours.

You can have NFT for completely digital created product/content(Digital art) or Real world asset (RWD, Plot of land) created as token/NFT in blockchain.

As NFTs are unique digital assets on a blockchain, there are some standard defined in various blockchains like standar ERC-721 in Ethereum, to have a standardized approach of how to create (mint), transfer the NFT, or interact with it, so anyone in the world can interact with them.

NFT is usually a unique string (ID) whose information(metadata) are stored in the blockchain (most cases). If you are the owner of the asset-NFT, there is link to your wallet address and NFT(ID) is created and stored in the blockchain. When you transfer the ownership, the link with the new owner address and NFT ID is linked.

Until you make a transaction to transfer the ownership of the NFT to new owner, nobody can take or claim the ownership of the NFT.

NFTs are often digital art, music, or virtual items, and you can buy or sell them on websites like NFT marketplace websites like OpenSea or Rarible.