What is the difference between first$-$party data and third$-$party data?

First$-$party data is collected from a user directly, while third$-$party data is purchased from external sources

First$-$party data comes from social media, while third$-$party data comes from cookies

First$-$party data is always anonymous, while third$-$party data is identifiable

First$-$party data is collected without consent, while third$-$party data requires user approval