NFTs, or Non-Fungible Tokens, were invented in late 2018. The idea behind them was to create a new type of token that could represent any kind of asset in a way that was unique, and therefore not interchangeable.
The reason that this is important is that the crypto space has long been dominated by currencies and coins. Cryptocurrencies have been around since 2009 and have been increasing in value ever since, but there are many people who don’t have access to them because they’re not able to buy them outright or because they don’t have enough money to invest in these currencies.
NFTs allow people who might not be able to buy cryptocurrencies at all to get involved with the digital currency revolution by creating their own tokens based on things they already own—things like art or collectibles or even skillsets.