"Non-fungible token" A digital certificate of authenticity used to assign and verify ownership of a unique digital or physical asset. Unlike fungible tokens, NFTs are not interchangeable with one another.

Web3 is the new iteration of the Internet based on public blockchains, characterized by technologies like NFTs, cryptocurrencies, DAOs and more. (Ensemble.xyz) Web1 marked the beginning of the internet. Some people refer to it as "the old internet". Static webpages with no interactivity. You'd just visit the site, read what someone had to say, and log off. Most of the internet we know today is considered Web2, which describes the interactions and relationships between users and platforms. Big centralized entities build platforms -- and users use them. But it's the platforms that capture most of the value, monetizing data collected on the platforms. A lot of good has come out of this version of the internet, but we think it's time for something even better. Web3 is the latest iteration of the internet. It's a decentralized form of the World Wide Web where the creators of content, data, and applications, own and enjoy the benefits of the things they create, made possible by blockchain technology. (Web3.University)