NFTs, or non-fungible tokens, are digital assets that convey ownership of what could be considered an original copy of a digital file. They share many similarities with cryptocurrencies, and they can be bought and sold in many of the same marketplaces.
However, NFTs are different from cryptocurrencies due to that unwieldy word in their name: non-fungible.
Cryptocurrencies are fungible, so any unit of a specific cryptocurrency is basically the same as any other. My one Bitcoin has the same value as your one Bitcoin.
» Ready to invest? Here are our picks for best cryptocurrency exchanges
However, NFTs are different from cryptocurrencies due to that unwieldy word in their name: non-fungible.
Cryptocurrencies are fungible, so any unit of a specific cryptocurrency is basically the same as any other. My one Bitcoin has the same value as your one Bitcoin.
» Ready to invest? Here are our picks for best cryptocurrency exchanges