One of the fastest-growing parts of the blockchain industry is the NFT market which recently seems to be the new focus of many in the space. NFTs, an acronym for Non-Fungible Tokens, are types of digital assets that are unique in that their characteristics stay on it and are not shared by other tokens of such nature.
The feature above is what makes it different from cryptocurrencies which are fungible or whose value can be changed from one to another. As NFTs emerged and became one of the biggest and most valuable parts of blockchain technology, much discussion has been on their utility.
This has led to the development of what is called Utility NFTs or NFTs that serves a function beyond being just a keepsake. Understanding NFTs and the utility means for them is important as the field evolves very fast.