NFT stands for Non-Fungible Token and is a type of cryptocurrency token that is unique and non-interchangeable. Unlike a fungible token, an NFT cannot be divided into smaller units or exchanged for an equal value of another token. NFTs are used to represent ownership of digital assets such as art, music, videos, and collectibles. They are stored on a blockchain and are often used to create digital scarcity, meaning that only a certain number of copies of a digital asset can exist. KT1 is a type of token that is similar to NFTs in that it is also non-fungible and represents ownership of digital assets. However, KT1 tokens are designed to be used as a form of payment, rather than as a representation of ownership. It is possible that no one has tried to create a KT1 token yet, but it is likely that someone will try soon as the demand for digital assets continues to grow.
