NFT stands for a "non-fungible token." They are certificates of authenticity for unique digital or physical assets. When you purchase an NFT, this grants you ownership in your virtual collection. Just like purchasing a physical work of art, NFT buyers are able to collect and re-sell with an extraordinary potential for growth. NFT and blockchain technology are powerful tools for artists to track provenance and showcase artwork, also cultivating greater patronage in a digital world.
If an artist mints a specific image of work onto an NFT platform, this now turns artwork into a new product. Just like releasing an exclusive physical print, an NFT becomes a token of increasing value. And of course, crypto currency in turn is transferred back into USD.