What are NFTs? Everything you need to know about non-fungible tokens • 3 min read A look at the new phenomenon, NFT’s NFT is known as “non-fungible token” and represents an online marketplace where digital collectibles or creations are bought and sold, sometimes fetching prices in the millions.Picture Alliance via Getty Images From digital art and published columns, to sports highlights, viral photos and even memes, NFTs can take the form of virtually any type of online content and these irreplicable tokens have skyrocketed in popularity. Simply put, a non-fungible token is a one-of-a-kind asset that lives online and is managed in a digital ledger.