In this video, James Bachini details the process of writing an NFT smart contract in Rust and deploying it on the Stellar Soroban smart contract platform. The video explains how to deploy an NFT using metadata stored on IPFS. The smart contract follows a loosely based SEP 39 standard and includes functions for minting, transferring, and approving tokens. The video emphasizes the simplicity of the example and notes that the code should not be used in production without additional security measures. It discusses testing and deploying on both the testnet and mainnet, using cargo to build and deploy the contract. The content is educational, aimed at developers interested in NFTs on Stellar.