NFT
Last updated 17 October 2026Last verified 17 October 2026
What is an NFT (Non-Fungible Token)?
Non-Fungible Token. A token representing unique ownership of a digital or physical asset, recorded on a blockchain. Unlike fungible tokens (where one unit equals another), each NFT is distinct. Ownership of the token does not necessarily confer rights to the underlying asset: the legal relationship between NFT ownership and real-world rights remains largely untested in most jurisdictions.
TradFi equivalentA certificate of authenticity that has become the traded asset itself. It transfers like a bearer instrument, but it is not a certificate of title, and whether it carries any right to the underlying is a legal question the ledger does not answer.