Data Related Concepts

Non-Fungible Token

A non-fungible token (NFT) is a unique identifier that can cryptographically assign and prove ownership of digital goods. NFTs can represent real world items like artwork and real estate. “Tokenizing” these real-world tangible assets makes buying, selling, and trading them more efficient while reducing the probability of fraud. By enabling digital representations of physical assets, NFTs are a step forward in the reinvention of this infrastructure. According blockchain data company Chainanalysis, the marketplace for non-fungible tokens surged to $41 billion in 2021.