Saad Sheikh In order to purchase an NFT, there must be a sufficient amount of the corresponding cryptocurrency in the wallet, such as ether (ETH), if a person buys a token on the Ethereum blockchain.
But unlike the standard coin on the Bitcoin blockchain, NFTs are unique and cannot be traded in the same way (so not interchangeable).
Saad Sheikh Thus, unlike most digital objects, which can be played indefinitely, each NFT has a unique digital signature, which means it is one of a kind. An NFT is essentially a digital collectible that has value as a form of cryptocurrency.