An NFT smart contract mints digital tokens representing ownership of unique assets (art, collectibles, game items). The contract enforces supply limits, ownership tracking, and optional royalties on secondary sales. Standards like ERC-721 (unique tokens) and ERC-1155 (semi-fungible) define interfaces for marketplaces to recognize and trade NFTs. Mint contracts handle the core mechanics: accepting payment, minting tokens, tracking balances, enabling transfers. Advanced contracts add allowlists (early access), tiered pricing (different cost per mint phase), and community incentives.