# What is a NFT

#### What is NFT Token:

NFT (Non-Fungible Token) is a unique digital token based on blockchain technology that represents an irreplaceable, non-interchangeable asset or item. The key characteristic of an NFT is its non-fungibility and uniqueness, meaning each token has its own distinct value and cannot be replaced or exchanged for another token in the same way as cryptocurrencies.

**Key features of NFT:**

1. **Uniqueness:** Each NFT is one-of-a-kind, distinguishing it from other tokens.
2. **Indivisibility:** NFTs cannot be divided into smaller units, unlike some other cryptocurrencies such as Bitcoin or Ethereum.
3. **Durability:** NFT data is permanently recorded on the blockchain, ensuring immutability and a public record of ownership history.
4. **Ownership:** NFT ownership is decentralized and recorded on the blockchain, eliminating the need for intermediaries and providing users with full control over their digital assets.

**NFT Token Standards:** It is also worth noting that there are different NFT token standards, with two of the most popular being ERC721 and ERC1155.

**ERC721:**

* One of the earliest NFT token standards.
* Each ERC721 token is unique, making it ideal for representing one-of-a-kind assets, such as digital art.
* Commonly used in projects related to collecting and digital art.

**ERC1155:**

* Introduces a more flexible model, allowing for the issuance of both unique and fungible tokens.
* Ideal for games where different access levels or a variety of items are needed.

The differences between these standards provide developers with various options to tailor NFTs to specific use cases.


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