A non-fungible token, called NFT, is a unique digital certification based on blockchain technology. It is stored on a blockchain to provide certain ownership rights of a digital space. The asset is non-fungible as each one of them is unique and of different value. It contrasts with fungible assets such as rupees or bitcoins.

NFT can represent easily reproducible items such as art work, photos, videos, audio files etc. as unique items.

An NFT is generated or minted using a smart contract which is a computer code stored on a blockchain. As the transactions on blockchain are transparent, anyone can view the underlying information including blockchain address of the owner or minting of NFT. A buyer can purchase an NFT, if he has a digital wallet to receive, access and transfer it.

NFTs attract criticism due to energy consumption in minting and carbon footprint left while validating transactions.