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NFTs, Blockchain and Crypto. ExplainedA non-fungible token (NFT) is a unit of data that lives on a blockchain. Each NFT has a unique identification code that can't be replicated or. NFTs or Non-Fungible Tokens are a kind of cryptocurrency that represents a one-of-a-kind digital asset or unique piece of artwork. Fiat and. NFTs (non-fungible tokens) are unique cryptographic tokens that exist on a blockchain and cannot be replicated. NFTs can represent digital or real-world items.