“NFTs, or nonfungible tokens, are unique assets that can’t be replaced with something else, and are verified and stored using blockchain technology. They can include everything from music to a website domain, but the current craze is really around digital artwork.”
“The market exceeded $10 billion in transaction volume in the third quarter of 2021, according to DappRadar, a company that tracks data on crypto-based applications.”
“And many people who’ve seen their cryptos skyrocket in value have had few ways to spend them until now. It’s not as easy, for example, to buy a house or car with bitcoin or ethereum.”
‘“There’s been this crazy demand, and now all of a sudden there’s something to buy,’ Schachter said.”