‘NFT’ stands for ‘non-fungible token’. Just like crypto, they live on a blockchain and belong to their owners completely and irrevocably. That means the owners can freely transfer NFTs between account names and addresses, sell, bid on and publicly display them.
Every NFT is provably unique. They can take many forms and shapes, from digital high school diplomas to membership cards. In the gaming context, NFTs are mostly used either as game-themed collectibles or items with in-game use — just like a potion, a weapon or a booster in any mainstream game.