NFT stands for nonfungable token. It’s a complicated digital thing kinda like Bitcoin.
NTF offer a blockchain-created certificate of authenticity for a digital asset such as an artwork, video, or in this case, a piece of music. They are recorded in a digital ledger in the same way as cryptocurrency, so there’s a listing of who owns each one, and the digital asset tied to the token makes each NFT unique.
Early March 2021, Kings Of Leon became the first band to release an album as an NFT, expanding the possibilities for crypto and blockchain technology in the music industry. Shawn Mendes has NTF products and looks like The Weeknd may also.
new song living in NFT space. coming soon…
— The Weeknd (@theweeknd) March 26, 2021