NFTs are tokens that we can use to represent ownership of unique items. They let us tokenize things like art, collectables, and even real estate. They can only have one official owner at a time and they're secured by the Ethereum blockchain. No one can modify the record of ownership or copy/paste a new NFT into existence.
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NFT stands for non-fungible token. Non-fungible is an economic term that you could use to describe things like your furniture, a song file, or your computer. These things are not interchangeable with other items because they have unique properties.