With the emergence of new technological innovations such as decentralized finance, doors are opening for the creation of new digital products, such as non-fungible tokens. Non-fungible tokens represent digital assets that signify ownership of property such as music, art, video games, and more. They are an example of how technological discovery is changing the concept of ownership, providing opportunities for the development of various sectors such as collectibles, sports, music, art, and culture. Therefore, the subject of this paper is a detailed overview and analysis of the functions regarding the non-fungible token market. The objectives of this thesis are to systematize the advantages and disadvantages of non-fungible tokens, analyze the state and potential of the non-fungible token market, and explore and evaluate young people's attitudes towards the use of non-fungible tokens. The analysis of the non-fungible token market indicates rapid growth and ascent, characterized by significant changes in value and fluctuations in 2021. However, by the end of 2022, the market experienced a significant decline due to a drop in buyer interest and market prices, rising inflation, interest rates, and restrictive monetary policies caused by the COVID-19 pandemic. Additionally, survey results suggest that young people have a low tendency to invest in non-fungible tokens due to a low level of familiarity with them, as well as the high volatility of non-fungible tokens. Despite the current significant decline in the NFT market, the wide possibilities of their application could result in future market growth.