An NFT is essentially a unique, digital good. For the first time ever, digital assets can be scarce and unique.

For example, your couch is a completely unique, scarce item. There is only one of them in existence. It might be the same model as your neighbor’s couch, but your neighbor’s couch is not your couch. They are two separate, unique items. This is what NFTs do for digital assets — whether it is an image, song, video, gif, or even a digital representation of your couch online. NFTs create and represent unique, scarce, digital assets.

And now, because of this uniqueness, these digital assets can be assigned value and ownership. From art to real estate to tickets, anything you can imagine on the internet can now be minted (created as an NFT), bought, and sold.