NFTs has been gaining popularity over the past two years. From art and music to Jack Dorsey’s first tweet and toilet paper, these digital assets are selling for up to millions of dollars. In December 2021, an anonymous artist Pak sold 266,445 shares of his NFT Merge for $91.8 million on Nifty Gateway. He is now known as the most expensive living artist in the world.
However, many of you must be thinking right now what the heck is an NFT and how does it work? If you are that person then you have come to the right place so let’s start with the basics.
What exactly is an NFT?
NFT’s, non-fungible tokens are digital asset that represents real-world objects like art, music, in-game items and videos. Non-fungible means that it is unique and irreplaceable. Your cars key, your dog, your child’s drawing displayed proudly on the fridge are non-fungible. It’s the only one that…
