Mike Winkelmann, better known as Beeple, has sold the most expensive digital artwork in history. It’s part of an explosion in the market for NFTs — tokens that prove ownership of things like digital art that you can’t even touch.
Inside the NFT Boom
NFTs– non-fungible tokens– are booming. In simple terms, they’re unique digital tokens establishing the authenticity and ownership of all manner of digital things. Tweets, collectible basketball cards– even a single digital pixel. But it’s in art world where they’ve grabbed the most attention — and the highest prices. So what the hell is crypto art? Who’s buying it, who’s selling it, and who cares? We met up with some of the crypto art world’s star players to find out.
Reggie Watts Explains NFT’s to Joe
NFT is a fancy mathematical way of proving you own the original copy of something. A bit like anyone can get a copy of a painting that looks identical but people will pay a huge price to be able to say they have the original.
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What Are NFTs and How Do They Work?
NFTs are non-fungible tokens that are digital assets that represent tangible and intangible items.
These can range from collectible cards, drawings, music, digital real estate, tweets, and much more.
At a very high level, most NFTs are part of the Ethereum blockchain.
NFTs are essentially designed to give you something that can’t be copied
In this video I explain:
- What are NFTs
- Characteristics of NFTs
- What are NFTs used for
- How NFTs work
- Examples of NFT Art
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What are NFTs? | CNBC Explains
Investors have been spending millions of dollars on digital collectibles known as NFTs, or non-fungible tokens. CNBC’s Ryan Browne explains how these crypto-based assets work and why they’ve become so popular.
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NFTs, Explained
Yes it’s hype. But it could change our world.