NFT is a non-fungible token (NFT). The non-fungible token is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded.  

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The NFTs in other words, it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing.   

A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different.  

There is another definition of NFTs, which is simpler to understand. The other definition is a digital asset that represents real-world objects like art, music, in-game items and videos which can be bought and sold online, frequently with cryptocurrency.   

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Types of NFT data units may be associated with digital files such as photos, videos, and audio. Most NFTs are part of the Ethereum blockchain.   

The blockchain supports these NFTs, which store extra information that makes them work differently from an ETH coin. It is worth noting that other blockchains can implement their own versions of NFTs.  

The first known “NFT”, Quantum, was created by Kevin McCoy and Anil Dash in May 2014. It consists of a video clip made by McCoy’s wife. It was sold on the Namecoin blockchain to Dash for $4,  

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In October 2015, the first NFT project, Etheria, was launched and demonstrated at DEVCON 1 in London, Ethereum’s first developer conference, three months after the launch of the Ethereum blockchain.   

Most of Etheria’s 457 purchasable and tradable hexagonal tiles went unsold for more than five years until March 13, 2021, when renewed interest in NFTs sparked a buying frenzy.  

Here some links you can refer to have more understanding about NFT as the following:   

en.wikipedia.org  

www.theverge.com  

www.forbes.com  

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