Definition:
A non-fungible token is a unique digital asset recorded on a blockchain, intended to represent ownership or authenticity of a digital or physical item.
Usage Context:
Seen in cryptocurrency markets, digital art sales, collectibles, gaming, and speculative investment spaces.
Critical Note:
NFTs are often framed as empowering creators or restoring ownership. In practice, they frequently reproduce speculative dynamics, artificial scarcity, and platform dependency while offering limited protection or benefit to most creators.
Related Terms:
Artificial Rarity, Speculative Value, Manufactured Demand, Enclosure, Platform Power