NFT stands for non-fungible token , which is a fancy way of saying it is a unique one of a kind digital item that can’t be reproduced or replicated. They can be bought, collected or traded. Some NFT’s also give you exclusive access to communities and other perks. For example your sloth will give you access to the VIP lounge. So I guess you can think of it like a piece of art that also acts as a member’s badge.