Non-Fungible Tokens (NFTs)
Non-Fungible Tokens (NFTs) are unique digital assets stored on a blockchain that represent ownership of a specific item, such as art, collectibles, or virtual real estate. Unlike cryptocurrencies like Bitcoin, each NFT has distinct properties and cannot be exchanged on a one-to-one basis, making them non-fungible. They enable verifiable scarcity and provenance for digital content through smart contracts.
Developers should learn about NFTs when building decentralized applications (dApps) for digital art marketplaces, gaming assets, or identity verification systems, as they provide a way to tokenize unique items on blockchains. This is particularly useful in use cases requiring proof of ownership, such as in the creative industries, supply chain tracking, or event ticketing, where authenticity and uniqueness are critical.