What is NFT? (Basic concept)

The way that our economy has always worked is we earn money and then we use that money to buy goods. But the more time we're spending on digital apps, digital games, the more our purchases are shifting away from physical goods and more towards digital goods. But that poses a problem. Digital goods are harder to monetize. For example, a painter's painting can be copied but the copied version can be easily traced if compared to the real one. But if a digital art is copied, it's difficult to trace which one is real and this is where the value of the real one is downgraded. This is what NFTs are trying to change.
NFT stands for Non-fungible Tokens.
Fungible means something that is able to exchange or substituted with another thing that holds the same value i.e. interchangeable. Like, we can exchange 100 dollars note for ten 10 dollars note, because they have the same value.
On the other hand non-fungible means an asset that can't be substituted. It has unique attributes that makes it different from assets of the same class. Like, a painting is an asset which can't be traded for a toy which is also an asset. Because values of them are not same.
Token refers to digital certificate stored on a secured distributed database called Blockchain.
So NFTs are digital assets that are publicly verifiable intellectual property authenticated on blockchain.