It stands for non-fungible token; a type of cryptographic asset whose ownership is established by a unique digital certificate held as an entry on blockchain. Such assets represent something unique (with non-fungible features), and hence each non-fungible asset/ token has unique identification codes and metadata that set them apart from other assets on the blockchain. In contrast to cryptocurrency, non-fungible tokens are not mutually interchangeable, and consequently cannot be used as a medium of exchange for transactions. Examples include unique digital certificates that specify the owner of a certain form of digital assets such as photos, videos, texts, content, etc.

Exotic digital assets, such as tweets (on Twitter), can also be monetized using the non-fungible token technology: digital “things” that have sentimental value (a value created through a relationship forged between collector and creator of digital art).