The main idea behind an NFT is that it is a special item verified by a blockchain using cryptography. Since each NFT is different, they cannot be used in the same way as fungible currencies like Bitcoin, which can be. Thanks to their uniqueness and the fact that they are scarce, NFTs gain their market value. JPEGs can symbolise virtual artwork, melodies, property in the virtual world and collectables. People are excited about NFTs since they help tokenise digital assets, opening up additional opportunities for both creators and collectors.