What is FTT Binance?

Could you elaborate on what FTT Binance actually is? I've heard the term mentioned in the crypto space but am still unclear about its exact nature. Is it a type of cryptocurrency? If so, what makes it unique compared to other digital assets? Does it serve a specific purpose within the Binance ecosystem? And what are the potential risks and rewards involved in investing in FTT Binance? I'd appreciate a concise yet comprehensive explanation of this token and its place in the broader crypto and financial landscape.