NFTs

NFTs (non-fungible tokens) are unique cryptographic tokens that exist on a blockchain and cannot be replicated. They are linked to digital or physical content, providing proof of ownership. There are many use cases for NFTs, including artwork, digital collectibles, music, and features in video games. Most NFT projects use the Ethereum blockchain to create, host, and distribute their NFTs. As an industry, NFTs are widely considered to still be in their early stages. In 2020 and 2021 NFTs experienced a boom when NFT projects like CryptoPunks and Bored Apes rose to prominence with multiple multi-million dollar sales. In March of 2021 an NFT made by artist Beeple sold for $69 million at auction, setting a new record for the asset class. In recent months the NFT market has cooled considerably and it remains to be seen whether or not peak prices for NFTs will once again be eclipsed – with passionate arguments on both sides of the argument. Note: This is not investment advice.

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