A Non-Fungible Token, or NFT, is a digital contract representing ownership of digital media like art, music, videos, memes, and even real-world objects like designer sneakers and real estate. Non-fungible basically means unique. Something like a dollar bill is fungible because if you trade a dollar bill for another dollar bill, you end up with the same thing. Each NFT has a unique code or address that exists on the blockchain, an online digital ledger or database that records transactions. Think of this as a digital certificate of ownership. If you buy the image of a Bored Ape or a video clip from NBA Top Shots, each carries with it a unique code indicating it’s yours. You access your NFT through a private key which links to the blockchain and indicates proof of ownership.