NFTs are individual tokens with valuable information stored in them. Because they hold a value primarily set by the market and demand, they can be bought and sold just like other physical types of art. NFTs’ unique data makes it easy to verify and validate their ownership and the transfer of tokens between owners.
In a way, owning a NFT in the digital space is like owning an asset in the normal space. Your identity, the assets’ information is stored in a blockchain within a smart contract, the same way your identity and your assets are written in a deed/contract and stored away in a lawyer office or bank vault. With digital assets becoming increasingly popular, the prevalence of NFTs will soon follow.