An NFT (non-fungible token) is a unique on-chain token used for art, collectibles, tickets, identity, and game items.
Unlike fungible coins, each NFT has distinct metadata and ownership history.
In research workflows, NFT is usually interpreted with Immutable, Ethereum, and NFT marketplace rather than as a standalone signal. Throughput, finality, and fee markets determine user experience and where activity migrates during congestion.