Non Fungible Tokens

Description

1.

"NFTs allow you to buy and sell ownership of unique digital items and keep track of who owns them using the blockchain. NFT stands for “non-fungible token,” and it can technically contain anything digital, including drawings, animated GIFs, songs, or items in video games. An NFT can either be one-of-a-kind, like a real-life painting, or one copy of many, like trading cards, but the blockchain keeps track of who has ownership of the file." (https://www.theverge.com/2021/3/12/22327594/metakovan-beeple-highest-auction-price-69-million-nft)

2. By Jacob Kastrenakes:

"NFTs are digital files that live on a blockchain and validate ownership of a related good — in this case, the collage. Some artists and collectors see them as the future of digital art by finally offering a way for buyers to acquire works that lack a physical component. Prices of NFTs from major artists have exploded in recent weeks, with Grimes selling $6 million worth of NFTs and Steve Aoki selling a single video for $888,888.88." (https://www.theverge.com/2021/3/12/22327594/metakovan-beeple-highest-auction-price-69-million-nft)

Example

"MetaPurse, [led by mysterious founder MetaKovan] describes itself as a “crypto-exclusive” fund. Its first project involved building those 20 original Beeple works into a digital museum, then effectively selling shares of that museum as digital tokens so that a multitude of buyers can have a stake in these works." (https://www.theverge.com/2021/3/12/22327594/metakovan-beeple-highest-auction-price-69-million-nft)