Find 5 Minutes for NFTs and in one Year you will be *Free
What are NFTs and why are some worth millions?
NFTs (or “non-fungible tokens”) are a special kind of crypto asset in which each token is unique — as opposed to “fungible” assets like Bitcoin and dollar bills which are all worth exactly the same amount. Because every NFT is unique, they can be used to authenticate ownership of digital assets like artworks, recordings, and virtual real estate or pets.
Why are NFTs important?
You can think of NFTs as being kind of like certificates of authenticity for digital artifacts. They’re currently being used to sell a huge range of virtual collectibles, including:
- NBA virtual trading cards
- Music and video clips from EDM stars like Deadmau5
- Video art by Grimes
- The original “nyan cat” meme
- A tweet by Dallas Mavericks owner and entrepreneur Mark Cuban
- Virtual real estate in a place called Decentraland