NFT
A unique digital token, e.g. art, in-game item, ticket.
Non-Fungible Token = a token that can't be swapped 1:1 with another (unlike BTC for BTC). Each NFT is unique: art, PFP collections (CryptoPunks, BAYC), concert ticket, land deed, in-game item. The 2021 NFT bull produced billions in volume (OpenSea); the 2022-23 bear deflated it. In 2024-25 the segment was revived by Bitcoin Ordinals and real-world asset tokenization (RWA).
In plain words
A token that isn't 1:1 interchangeable. Unlike BTC, every NFT is one of a kind. Used today for digital art, tickets, profile pictures, in-game items and proof of ownership of real assets like real estate or invoices. Most 2021 collections lost 95-99% of their value, so treat them as a risky collectible, not an investment.
Example
Bored Ape Yacht Club: 2022 peak ~150 ETH each, 2024 bottom ~10 ETH (-93%).
Also known as: non-fungible token