🖼️ NFTs & Ownership
What Is an NFT?
Non-fungible tokens, and what 'owning' one really means.
6 min read
Fungible vs non-fungible
One dollar is interchangeable with any other dollar - that's fungibility. A specific painting is not interchangeable with another; it's unique. NFTs bring that uniqueness on-chain: each token has its own identity and can't be swapped one-for-one with another.
That makes NFTs a natural fit for representing specific things: a piece of art, a ticket, a username, an in-game item, or a membership pass.
What you actually own
An NFT is usually a token whose contract records you as the owner of a particular item ID, plus a link to metadata (an image, traits, etc.). The artwork itself often lives off-chain; the token proves which one is 'yours' on the ledger.
So owning an NFT means the blockchain agrees you hold that token - it does not automatically grant copyright or stop others from copying the image. Rights depend on what the project actually promises.
Owning the token ≠ owning the copyright. Read what the collection's terms actually grant.
Check your understanding
2 questions from this lesson, with the correct answer already marked.
1. What does 'non-fungible' mean?
- Worth nothing
- Each unit is unique and not interchangeable one-for-one
- Cannot be sold
- Backed by gold
Non-fungible means each token is distinct - unlike dollars or ERC-20 tokens, you can't swap one for an identical other.
2. Owning an NFT of an image means…
- You automatically own the copyright
- The ledger records you as holder of that token; rights depend on the project's terms
- No one else can view the image
- You own the whole blockchain
Ownership is recorded on-chain, but copyright and usage rights are separate and depend on what the project grants.