# Non Fungible Token

A type of [smart contracts](smart-contracts.md) that associates a tradable [crypto asset](cryptoasset.md) with a unique piece of data, often a url to hosted image representing some abstract or perceived notion of ownership in [art](art.md) or [sign value](sign-value.md). Since the tokens have "unique" data associated with the token it is non-fungible unlike other crypto assets which aspire to be a fungible [private money](private-money.md).

NFTs have no [fundamental value](fundamental-value.md).

NFTs are a [speculative asset](speculation.md).

NFTs have no [use value](use-value.md).

NFTs have been critizied as having a payout structure similar to a [pyramid scheme](pyramid-scheme.md) or [multilevel marketing scheme](mlm.md).

## Duplication
#todo 

## Multiple-chains
#todo 

## Link Rot
NFTs have been critized as having no relationship to the underlying artwork and being subject to link-rot. 

See: https://thenftbay.org/

## Redefinition of Ownership
#todo 

## Tinkerbell Effect

* [@bodo_rise_2022]
* [@diehl_tinkerbell_2021]
* [@olson_line_2022]