Non-fungible token. These are unique tokens that signify that one person owns something. For example, if someone buys a Beepl piece of digital art for $6 million, it will be forevermore recorded on a ledger that this person "owns" the digital art. Sure, other folks can just download the .jpg and enjoy it but it would be the equivalent of having the original Mona Lisa vs. a print you can buy from RedBubble for example.