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An NFT is a distinct digital token recorded on a blockchain. The two pictures below show the key ideas: unlike interchangeable units, each NFT has its own identity; and the token record is separate from the image, item, or rights it may refer to.
Picture 1: How is an NFT different from a regular token?
“Non-fungible” means not interchangeable with another unit as though the two were identical. Ethereum.org uses USDC as an example of fungible units and contrasts them with individually unique NFTs. A token’s distinct identity is a property of its record—not proof that the referenced artwork is original or that the token will be valuable.
Picture 2: What is on the blockchain, and what does the NFT point to?
On Ethereum, a smart contract can create tokens and track which blockchain address holds each one. For ERC-721, a token is identified by its contract address and token ID; together, that pair identifies a particular asset on an Ethereum chain. The standard is one Ethereum NFT format, not a universal design for every blockchain or NFT.
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Does owning an NFT mean owning the artwork?
No—not automatically. The token, the content it references, and the rights a holder receives are separate matters. The Congressional Research Service notes that NFT ownership does not necessarily correspond to legal ownership of the underlying item. Buying a token therefore does not, by itself, establish that you own the artwork’s copyright, have the right to reproduce it, or possess a physical object.
The relevant terms for a particular NFT determine what rights, if any, accompany the token. Read those terms rather than inferring rights from the word “ownership” or from the fact that the blockchain lists your address as the holder.
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What can NFTs be used for?
NFTs can be designed as collectibles or to support practical functions. The SEC’s educational material gives examples of digital tools that can serve as memberships, tickets, credentials, title instruments, or identity badges. These are possible designs, not features every NFT has: the token label alone does not establish access, benefits, transferability, or legal status.
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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallThe SEC’s 2026 educational material distinguishes practical digital tools from digital securities without declaring all NFTs to belong to one category. Legal classification depends on the specific asset and circumstances; a token’s format by itself does not settle the question.
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