While ‘Non Fungible Tokens’ (NFTs) are not cryptocurrencies, they are units of data that can be sold, traded and is maintained on a digital ledger called a blockchain. NFT can be linked to a digital or physical asset, a file or a physical object, as well as a license to use that asset for a certain purpose.
On digital markets, an NFT along with the associated license to use, copy, or display asset can be bought and sold. So, it can take different forms such as art, music, videogame collectibles, trading cards or even memes. NFTs can be bought with crypto currency but as they are not cryptocurrencies it can be legally owned by people in countries with a ban on crypto like Nepal, China, India, Egypt, Iran, Russia and many more.
