NFT is the acronym for non-fungible token which in Italian means non-copyable token, i.e. something unique that cannot be replaced by anything else. For example, a cryptocurrency can be exchanged for another cryptocurrency while a work of art is unique and therefore non-fungible.

NFT stands for non-fungible token, which in Italian means a non-copyable token, meaning something unique that cannot be replaced by anything else. For example, a cryptocurrency can be exchanged for another cryptocurrency, while a work of art is unique and therefore non-fungible.