An NFT, or non-fungible token, is a unique digital asset that is stored on a blockchain and is not interchangeable with other tokens or assets. It can represent various types of digital art, music, video, and other creative works. NFTs provide proof of ownership and authenticity of digital assets, allowing creators to monetize their unique creations in a new way. They have gained popularity in recent years, with some NFTs selling for millions of dollars at auctions.