What is an NFT? The Motley Fool
“Non-fungible” more or less means that it’s unique and can’t be replaced with something else. For example, a bitcoin is fungible — trade one for another bitcoin, and you’ll have exactly the same thing. These items allow the website to remember choices you make and provide enhanced, more personal features. For example, a website may provide you with local weather reports or traffic news by storing data about your current location. This stands in stark contrast to most digital creations, which are almost always infinite in supply. Hypothetically, cutting off the supply should raise the value of a given asset, assuming it’s in demand. NFT s are also generally one of a kind, or at least one of a very limited run, and have unique identifying codes. Someone may sell an NFT that represents their work, but the buyer will not necessarily receive copyright to that work, and the seller may not be prohibited from creating additional NFT copies of the same work. NFTs and cryptocurrencies rely o...