NFT

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What Does NFT Mean?

The abbreviation NFT means "Non-Fungible Token" and "No Further Text." Here is more information about each of these definitions of NFT, together with examples of use.

Non-Fungible Token

NFT is used with the meaning Non-Fungible Token to refer to a unique entry on a blockchain (the same decentralized digital ledger technology that underlies cryptocurrencies like bitcoin). Most bitcoin is fungible, which means that one coin is essentially indistinguishable from another and is equivalent in value. NFTs are unique, so they are "non-fungible." They can represent items that cannot be replicated, such as original works of digital art, original songs, unique images, trading cards, etc.

Whilst most NFTs are digital items, they may be be traded as a tangible items, such as jpeg images or PDF files. A small number of NFTs are actual physical objects.

When purchasing an NFT, you acquire both the ownership record of an item, as well as access to that item. Because they are stored on blockchain, NFTs are unquestionably authentic.

NFTs allow content creators to actually own the rights to their digital creations. For example, whilst anyone can copy an image or music file, NFTs prove ownership of the original piece of work and can therefore be traded for a much higher price. In addition, artists and creators can sell their work with conditional contracts that allow them to profit from future increases in value on resale.

NFTs came to mainstream attention in March 2021, when Christie's became the first major auction house to sell a fully digital, NFT-based artwork. The digital work of art, called "Everydays: The First 5000 Days," by Mike Winkelmann (also known as "Beeple") sold for over US$69.3 million. The work is a mosaic of images that the artist made every day for 5,000 days, up to January 2021.

NFT - Everydays: The First 5000 Days (Collage)
Everydays: The First 5000 Days

Information on NFT trading can be found at nonfungible.com.

No Further Text

In text messaging and in online chat, NFT is used with the meaning "No Further Text" as a way of signing off a message. For example:
  • Toni: Gotta go. See you at school tomorrow.
  • Jo: Okay, NFT. Bye.

Summary of Key Points

First definition of NFT

"Non-Fungible Token" is the most common definition for NFT in mainstream media, as well as on Snapchat, WhatsApp, Facebook, Twitter, and Instagram.
NFT
Definition:Non-Fungible Token
Type:Abbreviation
Guessability:
5: Extremely difficult to guess
Typical Users:
Adults and Teenagers

Second definition of NFT

"No Further Text" is another common definition for NFT.
NFT
Definition:No Further Text
Type:Abbreviation
Guessability:
4: Difficult to guess
Typical Users:
Adults and Teenagers

Image for NFT

When I write NFT, I mean this:

meaning of NFT
NFT also means "No Further Text."

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An Academic Look at NFT

Whether used with the meaning "Non-Fungible Token" or "No Further Text," NFT is classified as an initialism abbreviation, because it is pronounced using its individual letters (i.e., "Enn Eff Tee"). Initialisms are different to acronyms, which are spoken like words.

Example of NFT Used in a Text

NFT

See Also

ALTCOINS (alternative currencies (cryptocurrency term)) BTFD (buy the f*cking dip (cryptocurrency term)) HODL (hold on for dear life (cryptocurrency term)) ICO (initial coin offering (cryptocurrency term)) REKT (financially ruined (cryptocurrency term)) SATOSHI (smallest unit of bitcoin (cryptocurrency term)) Using the music symbols