1.1 What is NFT (Non-Fungible Token)

NFT is the initialism of Non-Fungible Token, it refers to digital assets developed with smart contract technology in blockchain platform. The assets usually feature indivisibility, irreplaceability, and they are one-of-a-kind

Crypto tokens in blockchain platforms could be divided into two categories: fungible and non-fungible tokens. Fungible tokens share the same content, quality, and value. For instance, A US$1 bill in my hand has the same value as a US$1 bill in your hand, they are essentially identical; while the concept of non-fungible token is exactly the opposite, take flight ticket as an example, two tickets might be at the same price, but their destinations, time of departure, seats, and other details are different so the two tickets could not be swapped, they are non-fungible.

Each NFT is an one-of-a-kind item in blockchain platforms, besides potential differences in figures, most importantly, each NFT has unique crypto data and can not be swapped.