Finance & Crypto
What Are NFTs? A Clear Explanation of Non-Fungible Tokens
In early 2021, a digital image file sold at Christie's for $69 million. The buyer received no physical object, no exclusive viewing rights, and no copyright — the file remained freely viewable on the internet. What they received was an entry on a blockchain recording that a particular cryptographic token was associated with that image and was owned by their address. That is what an NFT is. The concept is more technically specific, and more genuinely interesting, than the hype made it sound.