By now, you’ve probably heard the term NFT before and if you haven’t heard of this new cryptocurrency trend — you certainly will soon. We recently wrote a blog about NFTs for the podcast show “EARLY.” Here’s an excerpt:
NFTs are non-fungible tokens. They’re digital collectibles that are exclusive and unique. They’re cyber assets that are publicly verifiable on a digital blockchain. The value of these NFTs are determined by the creator and the demand for the item. Some of these virtual creations are being sold for thousands of dollars and there have even been some NFTs that have garnered millions. While the most popular NFTs are sports trading cards from companies like NBA Topshop and Dibbs, entertainers like The Weeknd, DJ Grimes, Snoop Dogg and Post Malone have created NFTs. Plus artists like Beeple who sold his digital collage of 5,000 images for $69 million and entrepreneurs like Gary Vaynerchuck, Twitter’s Jack Dorsey and Dallas Mavericks’ owner Mark Cuban have all stepped into the digital stratosphere of NFT collecting.
Check out the full article here.