Non-fungible tokens (NFTs) explained
But what are NFTs? These are digital assets that represent a variety of unique tangible and non-tangible items. These range from collectible cards to virtual real estate and digital sneakers, as explained in a Coindesk article. NFT cards are the digital version of physical trading cards, such as Pokemon cards or the very popular sports cards.
Despite being on the blockchain and called tokens, NFTs cannot be directly exchanged for another, unlike cryptocurrencies, because no two non-fungible tokens are identical. That is the case even for NFTs that are on the same platform, game, or collection.
Because NFTs are on the blockchain, they are immutable and unforgeable. One of the main benefits of owning a virtual collectible versus a physical one is that each NFT contains information that makes them unique and verifiable.