An NFT is a type of cryptographic token that represents a unique asset. NFTs are tokenized versions of digital or real-world assets. They function as verifiable proofs of authenticity and ownership whose provenance, history and rarity can be easily verified on the blockchain. In the digital world, an action as simple as “right-click save” could potentially replicate a digital good, violating the creator's intellectual property rights. NFTs, on the other hand, are not interchangeable with each other and introduce scarcity into the digital world.