We've entered a digital ownership renaissance. True digital ownership did not exist until blockchain technology made it possible. An NFT can represent any digital content. For example you can own a digital piece of art, or perhaps a song, or game item. An NFT could be a digital trading card, or event ticket.
Let's use this digital character as an example. Say hello to Meatball. He is a character from the Pizzaverse comic.
What you see above is an image on a computer screen. They've been around for years right? Well now that digital image can have an owner and that owner is tracked in an immutable (unchangeable) ledger which is the blockchain. Not only are NFTs own-able, but that are programmable and interoperable. Let's go into those three topics a little more.
When you create an NFT on Cargo you are inscribing information about that collectible onto the Ethereum blockchain. When you create an NFT ownership is assigned to the collectible. Ownership is assigned to an Ethereum address which is controlled only by the person who has the secret key to unlock that address. An Ethereum address is a semi-anonymous digital identity. Once a digital collectible is assigned an owner only that owner will be able to transfer that collectible to someone else. They could sell it, even destroy it - or they could keep it forever.
Something that separates NFTs from physical collectibles is their programmability. What do I mean by this? NFTs live in code - this means that you can use code to program certain parameters around that digital collectible. A simple example could be this: you could create a program which would allow owners of several different types of digital collectibles to prove that they owned a certain series of collectibles. Your program could verify that they in fact did own that series and they could unlock a new collectible.
You can also use NFTs as event tickets. Perhaps the event is digital - you could assign an access code to only those who own one of the tickets and you could do this all programatically.
Interoperability - a characteristic of a product or system, whose interfaces are completely understood, to work with other products or systems, at present or in the future, in either implementation or access, without any restrictions.