NFT (Non-Fungible Token)
Definition
A unique cryptographic token on a blockchain associated with a reference to a media asset. NFTs record ownership transfers and can carry metadata, but they do not store the media file itself and do not authenticate its content.
- Structure
- Unique blockchain token referencing a media asset
- Records
- Ownership transfer history
- Does not store
- The actual media file
- Does not provide
- Content authentication
Common questions
Why can't an NFT prove that an image or video is authentic?+
The token only points to a file location, typically via a URL or hash reference, and anyone can mint a token pointing to content they do not own or that has been altered, so ownership of the token is separate from provenance of the underlying media.
What happens if the referenced media file is moved or deleted?+
Because the file itself usually lives off-chain, on a web server or decentralised storage network, a broken or changed link can leave the token pointing to nothing or to different content than when it was minted, undermining any provenance claim built on it.
How does NFT ownership evidence differ from copyright evidence?+
Owning the token establishes a blockchain-recorded transfer history for that specific token, but it does not by itself establish that the minter held copyright or rights to the underlying media, which remains a separate legal question.
Related terms
- C2PA (Coalition for Content Provenance and Authenticity)
- An open technical standard that embeds cryptographically signed provenance assertions into media files at the point of capture or editing. A C2PA...
- Cryptographic Hash
- A fixed-length digest produced from a file's bytes by an algorithm such as MD5 (128-bit), SHA-1 (160-bit), or SHA-256 (256-bit). Identical files...
- Oracle Problem
- In blockchain contexts, the gap between what the ledger records and the real-world state it is meant to represent. A blockchain has...
- Permissioned Ledger
- A distributed ledger in which participation is controlled by a known set of validators (for example, Hyperledger Fabric). Unlike public blockchains, a...
- Provenance Manifest
- A structured record, either embedded in a file or stored externally, that documents a media asset's origin, capture conditions, chain of custody,...