The term NFT (Non-Fungible Token) became widespread in the year 2021 to identify various digital art forms sold online via dedicated platforms, the uniqueness and ownership of which may be verified using blockchains. This definition, which came into common use on March 11, when Christie’s auctioned off the jpg file of “Everydays: The First 5000 Days” by Mike Winkelmann (better known as Beeple) for more than 69 million dollars, is incorrect in a number of ways. In technical terms, first of all, the NFT is not the digital file which is bought or sold, but the bit of code uniquely identifying it on the blockchain. A blockchain is a register, or database, which is decentralized and encrypted, a combination which makes any information recorded on it unalterable and tamper-proof. This has made blockchains the perfect ecosystem for coining and exchanging crypto-currencies. Digital currencies, like all currencies, are fungible tokens, that is, they may be exchanged for any other token of the same value. A Non-Fungible Token, on the other hand, represents something unique: a collectible item, or a right attributable only to the holder of the token. The behavior and exchange of an NFT are governed by a smart contract, a program which implements – and automatically makes operative – the clauses in a contract, which is also registered on the blockchain.