A non-fungible token (NFT) is a form of token on the smart contract that certifies the digital asset as unique and thus non-transferable. Digital media files can all be represented using NFTs. Only the buyer of the NFT has access to any duplicate of the original file. NFTs are tracked on blockchains to give the owner with a proof of ownership that is distinct from copyright.

Christie’s auctioned an NFT-based work of art known as Beeple. It was sold at $69 million was a record breaking for a sale of an NFT.