NFT stands for Non-Fungible Token, which is a unique and indivisible digital asset that represents ownership or proof of authenticity of a specific item or piece of content on a blockchain network. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible and interchangeable, NFTs are one-of-a-kind and cannot be exchanged on a one-to-one basis with other tokens. Each NFT has distinct attributes, making it valuable and different from any other token in existence.