Are NFTs halal or haram?

An NFT, a non-fungible token, is at its core just a certificate of ownership recorded on a blockchain. By itself it is neutral, a receipt. So there is no single ruling for "NFTs" any more than there is for "pieces of paper." What decides the ruling is what the NFT represents and how it is bought and sold.

When an NFT can be permissible

If the token represents a real, lawful thing, a genuine digital good, a ticket, access to a service, a certificate for a physical asset, or lawful art and design, then owning and trading it is much like owning and trading any lawful property. The value is tied to something real, not to a pure bet, and the exchange is a normal sale.

When it becomes a concern

Two problems recur. The first is the content: an NFT that depicts forbidden imagery, or grants access to something impermissible, takes the ruling of that thing. The second is the manner of trading. Much of the NFT market is pure speculative flipping, buying an image only because you expect someone to pay more later, at wildly uncertain, easily manipulated prices. That combination of maysir and gharar describes a large part of what actually happens on NFT marketplaces, and it leans clearly impermissible.

A note on royalties

Some NFTs pay the creator a percentage on every resale. That is a lawful, agreed condition of sale, not interest, so it is not itself a riba problem, though the underlying asset and the trading style still have to pass.

The takeaway

Judge the specific NFT, never "NFTs" as a category. Ask what it represents, whether that thing is lawful, and whether you are buying real utility or just gambling on a flip. For anything significant, consult a qualified scholar. Education, not a fatwa.