Non-fungible tokens (NFTs) are unique digital assets where each token is distinct and cannot be exchanged one-for-one with another. They are used to represent ownership of items like digital artwork, photography, music, video, event tickets, domain names, professional certificates, academic credentials, and in-game items. Unlike fungible tokens (where every unit is identical), each NFT carries its own identity and metadata, making it possible to prove authenticity and provenance. NFTs can be one-of-a-kind (1-of-1) or issued in limited editions. All transfers are private, so ownership changes are not publicly visible.