An NFT is a digital asset that exists on a blockchain. The blockchain serves as a public ledger, allowing anyone to verify the NFT’s authenticity and ownership. Unlike most digital items which can be endlessly reproduced, each NFT has a unique digital signature, meaning it is one of a kind. While anyone can view the NFT, only the buyer has the status of being the official owner, essentially giving the buyer bragging rights.
A simple analogy is to a plaque at a museum that identifies the owner who loaned a painting to the museum. Museum-goers can see the painting, look at photos of it on the museum’s website or buy posters. In contrast, if you own a physical copyrighted work, such as a book, then you have certain rights to that book, such as the right to alienate (sell, lend, rent) it, but not the right to make copies of it or create derivative works (e.g., translations) of it.
Source: Barandbench
