What NFTs really are · 1/2
Fungible vs non-fungible
Fungible means interchangeable: one USDC equals any other USDC. Non-fungible means unique: each token has its own ID and its own properties, like houses or trading cards.
An NFT is a unique token ID recorded on-chain, owned by an address, with metadata describing what it represents. The chain guarantees who owns it and tracks every transfer forever.