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What to know about non-fungible tokens (NFTs) — unique digital assets built on blockchain technology

NFTs have become increasingly popular and have sold for millions. They can come in the form of everything from memes to pet rocks. NFT; Alyssa Powell/Insider

A non-fungible token (NFT) is a unique digital asset that represents ownership of real-world items like art, video clips, music, and more.NFTs use the same blockchain technology that powers cryptocurrencies, but they're not a currency.While NFTs have sold for millions, they're highly speculative assets that are not appropriate for every investor.