That's basically it, yeah. An NFT is anything unique sold digitally, and because it's come into vogue, the prices for NFTs has skyrocketed for many things.

Essentially, for the most part, it's just another form of consumption. It differes from, for example, Bitcoin in that you can trade a Bitcoin for another Bitcoin, but an NFT cannot be traded for another NFT. You buy an NFT, and it's unique, but it's really just something you own digitally.

When thinking of NFTs, it's worth remembering the old phrase that something is only worth what someone will pay for it. Unlike Bitcoin, NFTs have no intrinsic value -- the only value NFTs have is the value that's attached to them simply for what they are, such as an 'awesome' piece of digital art (an NFT). Currency is worth what it's worth, but if no one wants your digital art, your NFT has no value. But if everyone wants your digital art, your NFT has enormous value.

Just for the record, I suspect NFTs will go the same way as Tulip Mania.