NFT

A Non-Fungible Token (NFT) is a type of cryptographic token on a blockchain that represents a unique asset.

Definition: An NFT (Non-Fungible Token) is a blockchain-based cryptographic token that represents a unique asset.
Difference from cryptocurrencies: Unlike Bitcoin or Ethereum (fungible and interchangeable), NFTs have unique attributes and are not interchangeable.
Types of assets: Can represent digital art, music, virtual real estate, in-game items, and even some physical assets.

Learn more in our NFTs guide.

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By Michelle Legge • Head of Crypto Tax Education

Updated Aug 15, 2025

This article has been fact checked and reviewed as per our editorial policy.

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The information on this website is for general information only. It should not be taken as consulting professional advice from Koinly. Koinly is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how the website information relates to you unique circumstances. Koinly is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.