An NFT is an autograph linked to bits that commonly represent images, videos or tweets. The NFT is created on a blockchain (decentralized db). As soon as the blockchain network is shut down or its members disappear, or the owner of the autograph forgets their digital wallet password, the NFT is gone.

The only thing that you’re buying and selling that’s not fungible is the blockchain-specific token. The video, image, etc, can be copied many times by anyone.

People who create NFTs can decide to create 1 NFT or 50 NFTs for an image, it’s up to them.

Creators get value from selling NFTs for their work because they get money for their work. They can also sell their NFTs on a site like 500px. The main thing that changes when they sell an NFT is that they can say “on Ethereum there is now an autograph associated with that specific image I created and I only created one such autograph.”

Reasons why people might buy these NFTs: scarcity bias, speculation, money laundering, etc.