What Are NFTs? Here’s What You Need to Know About Non-Fungible Tokens, by Annie Nova

“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.”

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