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NFT stands for Non-Fungible Token, which is a digital asset stored on the Blockchain ledger. NFT represents virtual assets or can also be encrypted from real-world objects like art, music, in-game items, and videos. Each NFT has its own unique identifier and this sequence of codes cannot be altered or duplicated so no one could fake. The transaction volume of the NFT market reached 44.2 billion USD in 2021, while the figure of 2020 was only about 106.5 million USD and 15.2 million USD in 2019.