Definition
A non-fungible token is a token whose individual identifier distinguishes it from other tokens in the same system. Rather than representing interchangeable units of one balance, an NFT records ownership of a particular token instance. Applications use this structure for collectibles, game items, membership credentials, and references to other assets. The token and the associated content are separate concepts: many NFTs point to metadata or media stored outside the blockchain, and several tokens can refer to similar or identical images. Technical ownership therefore does not automatically establish authenticity, copyright, commercial permission, or ownership of a physical object. Those claims require additional evidence and arrangements. NFT standards define transfer and approval behavior, but implementations may add administrator controls or changing metadata. Evaluating an NFT involves checking its network, contract, identifier, storage method, transfer permissions, and the precise rights the issuer claims it represents.
Source references
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