An NFT (Non-Fungible Token) is a unique digital asset verified on a blockchain. Unlike ETH which is fungible (every 1 ETH equals any other 1 ETH), each NFT has a unique token ID and cannot be replicated.
ERC-721 is the original NFT standard — each token is completely unique. ERC-1155 is a multi-token standard that supports both fungible and non-fungible tokens in a single contract, commonly used in gaming.
Value comes from scarcity (limited supply), provenance (creator reputation), utility (access passes, gaming items), and community. The underlying file can be copied — the NFT represents verified on-chain ownership.
What makes an NFT different from ETH?