Non-fungible token.
"“Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. A one-of-a-kind trading card, however, is non-fungible. If you traded it for a different card, you’d have something completely different. You gave up a Squirtle, and got a 1909 T206 Honus Wagner, which StadiumTalk calls “the Mona Lisa of baseball cards.” (I’ll take their word for it.)"
References
Clark, M. (2021). NFTs, explained. The Verge.
https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq
NFTs are unique cryptographic tokens that exist on a blockchain and cannot be replicated.
NFTs can be used to represent real-world items like artwork and real-estate.
"Tokeninzing" these real-world tangible assets allows them to be bought, sold, and traded more efficiently while reducing the probability of fraud.
NFTs can also be used to represent peoples identities, property rights, and more.
References
Sharma, R. (2021, March 8). Non-Fungible Token (NFT) definition. Investopedia.
https://www.investopedia.com/non-fungible-tokens-nft-5115211
Non-fungible tokens (NFT)
References
Ethereum Foundation. (2021, June 21). Non-fungible tokens (NFT). Ethereum.org.
https://ethereum.org/en/nft/
Non-fungible tokens (NFTs) are exploding in popularity. Trading volume for NFTs hit $10.67 billion in the third quarter of 2021, up a whopping 704% from the previous quarter, according to analytics platform DappRadar. One factor driving the skyrocketing trading volume is the growing popularity of NFT games. In-game items generated $2.3 billion of trading volume in that period, representing 22% of the total.
NFTs games are still in their early days. Because of that, many believe there's significant upside ahead as NFTs become more mainstream. Here's a look at how investors can get in on this action.
The simple answer is that NFT games allow users to earn money as they play. Blending video games with finance, or GameFi as players call it, these games use NFTs -- unique digital collectibles on the blockchain -- that gamers can sell in games to other collectors and players. Gamers can also earn NFTs in certain pay-to-earn gaming models. This setup allows gamers to invest in NFTs, which have the potential to appreciate in value.
References
DiLallo, M. (2022, March 8). Investing in NFT Games. The Motley Fool.
https://www.fool.com/investing/stock-market/market-sectors/financials/non-fungible-tokens/nft-games/