What is an NFT?
NFTs are digital assets that are often represented in the form of an image, in-game content, videos, or music. They reside on the blockchain, which is a kind of digital ledger that records all transactions made with cryptocurrency. NFTs are decentralized, meaning that their value is controlled by the community and not any larger organization. As such, if both the seller and the buyer agree that an NFT is worth a certain amount, it is worth exactly that much — even if the price seems ridiculous to those who are not familiar with the scene.
Check out this quick video by 19Keys that describes an NFT in 2 minutes!