NFT Beginner
An NFT (non-fungible token) is a one-of-a-kind blockchain token used to represent ownership of a specific item, like a piece of art.
Unlike a bitcoin, which is interchangeable with any other, every NFT is unique. Their prices are highly speculative and can drop sharply, sometimes to nothing.
This definition is educational and not financial advice. Crypto is volatile and high-risk — always do your own research.
Related terms
Intermediate
All terms →
Mining
Mining is using computing power to validate transactions and secure a proof-of-work chain such as Bitcoin.
IntermediatePrivate Key
A private key is the secret that controls a wallet and signs off on its transactions.
IntermediateSmart Contract
A smart contract is code stored on a blockchain that runs by itself once its conditions are met.