"NFTs (Non-Fungible Tokens) are digital objects that are unique and irreplaceable and are stored on a blockchain, usually on the Ethereum network. Each NFT represents a specific digital item, such as artwork, music, video, or another type of digital object.
Unlike fungible tokens, such as cryptocurrencies, NFTs are not interchangeable. This means that each NFT has a unique identity that cannot be replaced by another NFT.
An NFT is created through a smart contract on a blockchain and contains information about the creator of the NFT, the current and previous owners, and other data relevant to the authenticity of the digital object.
Owning an NFT does not give the owner any rights to the copyright or intellectual property of the digital object itself, but it does grant the exclusive right to trade or collect the NFT.