A Non Fungible token or NFT, as it is commonly abbreviated, is a digital representation of either a real-world asset or a digital object that exists on a decentralized ledger. A nonfungible token, as the name implies, is indivisible and unique. An NFT has a variety of applications including but not limited to provenance, record-keeping, elimination of intermediaries for artists, and a lot more! They can also serve as proof of authenticity for collectibles like original audio, video and digital images.