Unlike traditional cryptocurrencies, which are fungible (meaning each unique interchangeable and of equal value), NFT’s are unique and cannot be exchaned for another asset on a one-to-one basis. Each NFT has a distinct code and metadata that identifies its ownerships, history, and characteristics, making it a one-of-a-kind digital asset. 

NFTs have gained popularity in the art world as a way for artists to monetize their digital creations, and they have also been used in other industries, such as sports and gaming. The market for NFTs has grown rapidly in recent years, with some high-profile sales reaching millions of dollars.