The term stands for non-fungible token. They’re this new way to keep track of digital ‘ownership’ of an electronic item, like a picture, video or drawing, and they use blockchain technology to keep it all secure (which is also used for cryptocurrencies).It’s all pretty confusing, and the ownership isn’t legally recognised anywhere, but that hasn’t stopped insanely high valuations. It’s kind of like crypto, except that crypto is fungible (every token is the same) and NFTs are non-fungible (every token is different), making them collectable. You can read more about NFTs and Blockchain over on The Verge if you like going down rabbit holes.It’s worth noting however, that NFTs are facing mounting criticism for their large energy demands, due to the incredibly complex calculations computers have to perform as part of the ‘minting’ and blockchain process.This impact on the climate, as well as their involvement in a whole variety of scams and theft, has led to some people thinking twice about engaging with them, or even swearing off them entirely.