Many on this platform may have heard about the term non-fungible token, or NFT for short. But what really is an NFT and how does it work? Also, can it make you a millionaire?
From cartoon apes to video clips, sales of NFTs reached some $25 billion in 2021 as the speculative crypto asset exploded in popularity, data from market tracker DappRadar shows, although there were signs of growth slowing towards the end of the year.
The future is now: Today, a virtual Mona Lisa or a cat meme can be worth millions. Welcome to the world of NFTs. Fraudulent — or the future of the art world?
19 Apr 2021
The buyer of a $69 million digital artwork in the form of "non-fungible tokens" (NFTs) says he felt a "soul connection" with the artist as both men started as relative amateurs in their field but found success after years of hard work. Singapore based Vignesh Sundaresan, also known as MetaKovan, defends the price he paid for the collage of 5,000 pieces of art created on consecutive days, which has transformed its creator, real name Mike Winkelmann, into the third-most valuable living artist.