At present, NFTs are all the rage. Digital assets are growing rapidly. Everyone seems to be getting in on the activity, from celebrities to Fortune 500 firms. So, are NFTs the digital art's future? Or is it just another trend in collectibles? Here's all you need to know before investing in a non-fungible item.   Non-fungible tokens are digital assets with unique identification and smart contracts. Each NFT is unique due to this information. As a result, you cannot directly replace one with another token. Furthermore, no two NFTs are alike; so you cannot switch them. On the other hand, Banknotes are exchangeable if they are of equal worth; the possessor will not notice the difference between the one-dollar bill and another.  However, to know more, let's roll on to the basics of Non-Fungible and Fungible Tokens: