Definition
What is NFT (non-fungible token)?
An NFT is a blockchain token with a unique identifier that represents ownership of one specific item, digital or physical, rather than an interchangeable unit of value.
Most NFTs are ERC-721 or ERC-1155 contracts. The token stores ownership on-chain and usually points to metadata (name, image, attributes) stored elsewhere.
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Definition by Adwait Keshari, founder of Monsmith.
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