# NFT

NFT is the abbreviation of Non-Fungible Token (non-homogeneous token, indivisible, non-fungible and unique). NFT is a type of data unit on the blockchain-based digital ledger, and each NFT can represent a piece of unique digital data. Due to its non-homogeneous and indivisible properties, NFT can be bound to real-world goods, such as game props, digital artworks, and tickets. NFT records digital commodity ownership information in the blockchain ledger. Because it contains the identification information recorded in smart contracts, each NFT is unique and irreplaceable, which therefore makes it very popular in the field of art and collections. From the form of expression, NFT usually corresponds to a work shown in the form of pictures, audio, video, 3D models, etc. The owner of the work makes NFT based on the work, and goes on the shelves for transactions.\
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**BENEFITS OF NFTS**\
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&#x20;Non-fungible tokens have altered decentralized exchanges. Some of the advantages of crypto-currency include: \
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**Ownership Rights** \
The primary benefit of non-fungible tokens is the ability to prove ownership. NFTs can assist in linking ownership to a single account because they are on a blockchain network.\
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**Authenticity** \
The advantages of non-fungible tokens are essentially determined by their rarity. NFTs are created on the blockchain, which means they are tied to one- of-a-kind data. The particular qualities of NFTs reveal their ability to add value. Simultaneously, NFT manufacturers have the option of releasing a restricted number of NFTs to create supply scarcity.\
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&#x20;**Fraud proof** \
They are easily transferred and unaffected by fraud.\
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