Tokens and NFTs · Lesson 3 of 4

NFTs

An NFT records who owns something unique, like a work of art, a ticket or an item in a game.

A non-fungible token, or NFT, is a unique token that can't be split. It records ownership of something one of a kind: a work of art, a ticket or an item in a game. NFTs aren't used for payments.

Anyone can mint (create) an NFT. When it's minted, some settings are fixed for good: whether it can be passed on to others, whether its issuer can destroy (burn) it later, and whether the issuer takes a fee each time it changes hands.

An NFT its issuer can burn suits things that get used up, like a ticket to an event.

To trade an NFT, one side makes an offer and the other accepts it. The ledger stores NFTs in pages of up to 32, so holding more of them only adds to your reserve when a new page is needed.

Sources

• Non-Fungible Tokens (xrpl.org) (checked 2026-10-22)

General information about how the XRP Ledger works, not financial, legal or tax advice.