# NFT

*Crypto & Digital Assets — Finicade finance glossary*

An NFT is a token representing ownership of a specific unique item rather than an interchangeable unit. What's on-chain is usually a pointer to a file hosted elsewhere, not the artwork itself, which is a well-known weakness. Speculative collectible prices collapsed by over 90% from the 2021 peak; the more durable applications are ticketing, credentials and in-game items.

**Also known as:** non-fungible token, NFTs, digital collectible

**Related terms:** [Smart Contract](https://finicade.com/glossary/smart-contract), [Ethereum](https://finicade.com/glossary/ethereum), [Token vs Coin](https://finicade.com/glossary/token-vs-coin), [Web3](https://finicade.com/glossary/web3), [Crypto Winter](https://finicade.com/glossary/crypto-winter)

Source: https://finicade.com/glossary/nft