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One extreme is a 1/1 NFT (or 1×1 NFT) where there is a single token issued for a unique asset. Then, the owner of that single token is the owner of the asset. There can be multiple tokens issued for the same asset as well.
A 1/1, 1 of 1, or one of one, is an NFT that has been issued as a single, unique edition. One of ones are seen as more scarce and therefore more valuable, because only one person can own them at a time.
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One extreme is a 1/1 NFT (or 1×1 NFT) where there is a single token issued for a unique asset. Then, the owner of that single token is the owner of the asset. There can be multiple tokens issued for the same asset as well.
A 1/1, 1 of 1, or one of one, is an NFT that has been issued as a single, unique edition. One of ones are seen as more scarce and therefore more valuable, because only one person can own them at a time.