NFTs, or non-fungible tokens, are noninterchangeable digital assets stored on a blockchain. They usually take the form of a picture, video, or audio file in a digital format. NFTs can be sold, traded, or leased like any real-world asset.
NFTs are valuable because they verify the authenticity of a non-fungible asset. This makes these assets unique and one of a kind. ... While anyone can make copies of his paintings, the original painting remains irreplaceable and unique. NFTs make digital content irreplaceable, hence valuable.
In theory, anybody can tokenise their work to sell as an NFT but interest has been fuelled by recent headlines of multi-million-dollar sales. On 19 February, an animated Gif of Nyan Cat - a 2011 meme of a flying pop-tart cat - sold for more than $500,000 (£365,000). A few weeks later, musician Grimes sold some of her digital art for more than $6m. It is not just art that is tokenised and sold !
Below is how an NFT should look like
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