What is an NFT?
NFTs are digital tokens that represent ownership of unique items. Learn how NFTs work in the MoneySense Glossary.
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NFT stands for non-fungible token. It’s a unique digital asset that is not interchangeable with other assets of its kind (in contrast to fungible assets, such as cash or commodities, which are easily interchangeable). NFTs function as certificates of authenticity and/or ownership for real or virtual assets. Sometimes the NFTs are the assets (for example, digital artwork). When NFTs are bought and sold, the transactions are recorded on a blockchain, or decentralized digital ledger.
Example: “Online marketplaces sell NFTs for everything from memes and music to tweets and avatars.”
Read more on NFTs:
- How to buy NFTs in Canada
NFTs have grown into a multi-billion-dollar industry, with investors snapping up digital assets in art, music, sports and property. Here’s how to tap into crypto’s newest growth frontier. - DeFi vs. NFTs: Which should you invest in?
Decentralized finance and non-fungible tokens offer different ways for investors to use their crypto. Here’s what to consider before you invest. - How to buy ethereum in Canada
Ethereum has promising functionality, but it’s just as much of a volatile thrill ride as bitcoin. Here’s what you need to know. - What is cryptocurrency? And how do you invest in it?
If you’re new to bitcoin, ethereum and other crypto coins, catch up with our beginner’s guide to these digital assets—including opportunities and risks. - Making sense of the markets this week: April 19, 2021
What David Bowie and bitcoin have in common; investing in fine wine isn’t just for the ultra-wealthy any longer; moaty stocks are on sale; and more.
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