A non-fungible token (NFT) standard refers to a set of rules that defines how unique digital assets are created, bought, and sold on a blockchain. Unlike cryptocurrencies like Bitcoin or Ethereum, which are interchangeable, NFTs represent ownership of specific items or content, such as art, music, or virtual real estate.The most common NFT standard is ERC-721, which allows developers to create tokens that are unique and not interchangeable. Each NFT has distinct information that sets it apart from others, making it suitable for representing ownership of one-of-a-kind items.Another popular standard is ERC-1155, which allows for a mix of fungible and non-fungible tokens in a single contract. This flexibility enables more efficient transactions and simplifies the management of multiple token types.NFT standards contribute to the growing ecosystem of digital ownership, enabling creators to monetize their work directly and collectors to invest in unique digital items. Ultimately, these standards establish the foundation for a new way to own and trade digital assets.