Non-fungible tokens, often referred to as NFTs, are blockchain-based tokens that each represent a unique asset whether physical, digital or metaphysical. The most common NFT assets are digital art, digital collectible items, pieces of content like video or audio, and event tickets.

A non-fungible token is created by an artist, creator, or license-holder through a process called minting. Minting is a process that involves signing a blockchain transaction that outlines the fundamental token details, which is then broadcasted to the blockchain to trigger a smart contract function which creates the token and assigns it to its owner. 

Under the hood, a non-fungible token consists of a unique token identifier, or token ID, which is mapped to an owner identifier and stored inside a smart contract. When the owner of a given token ID wishes to transfer it to another user, it is easy to verify ownership and reassign the token to a new owner.