To understand what an NFT is, it helps to know what the term Non-Fungible Token means. Fungibility is often used in the economic space to describe property that can be exchanged for something with the same value, such as currency or precious stones. However, non-fungible items have unique attributes that simply cannot be substituted – such as the qualities that make a Monet painting so valuable. Therefore, the same rarity seen in traditional art is now possible within the digital landscape. NFT’s has emerged as a new platform for authenticity of ownership, specifically for art.
