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What Is an NFT?: An NFT is, in essence, a collectible digital asset, which holds value as a form of cryptocurrency and as a form of art or culture. NFT stands for non-fungible token. A digital token that’s a type of cryptocurrency, much like Bitcoin or Ethereum. But unlike a standard coin in the Bitcoin blockchain, an NFT is unique and can’t be exchanged like-for-like (hence, non-fungible).