NFTs are minted through smart contracts that assign ownership and manage the transferability of the NFT's. Ownership is managed through the uniqueID and metadata that no other token can replicate.
NFTs are different from ERC-20 tokens, such as DAI or LINK, in that each individual token is completely unique and is not divisible. eth is registered on Ethereum via the Ethereum Name Service (ENS). org address is centrally managed by a domain name system (DNS) provider, whereas ethereum. This website has an alternative domain name powered by NFTs, ethereum.eth. Some crypto meetups have used POAPs as a form of ticket to their events. These are collectibles that prove you participated in an event. If you contribute to, you can claim a POAP NFT. We use NFTs to give back to our contributors and we've even got our own NFT domain name.
They can only have one official owner at a time and they're secured by the Ethereum blockchain – no one can modify the record of ownership or copy/paste a new NFT into existence. They let us tokenise things like art, collectibles, even real estate. NFTs are tokens that we can use to represent ownership of unique items. And one day owning your car might be proved with an NFT. It's only a matter of time before Kanye puts a run of Yeezys on Ethereum. If Andy Warhol had been born in the late 90s, he probably would have minted Campbell's Soup as an NFT. Really they can be used to represent ownership of any unique asset, like a deed for an item in the digital or physical realm.
But digital art is only one way to use NFTs. And celebrities are joining in as they spot a new opportunity to connect with fans. Digital artists are seeing their lives change thanks to huge sales to a new crypto-audience. NFTs are currently taking the digital art and collectibles world by storm.