NFT
Also called: non-fungible token
A token that is one of a kind, recorded in a smart contract as belonging to one address.
NFT in more detail
An NFT, or non-fungible token, is a token that is one of a kind. It is recorded in a smart contract as belonging to one address.
Lesson 9 introduced the difference. One unit of a fungible token is the same as any other, in the way one dollar is the same as another. A non-fungible token is distinct. It cannot be swapped one-for-one for another, because no other is identical.
On Ethereum most NFTs follow a standard called ERC-721. A contract that follows it keeps a simple list: token number 1 belongs to this address, token number 2 to that one.
All 128 terms · Checked against the lesson's sources on 10 October 2026.
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