What is an NFT?

NFT hype has peaked. Monthly sales on the top platform for buying and selling NFTs, OpenSeas, reached US$3.4 billion in August, an all-time high according to data from Dune Analytics. But what exactly is an NFT? We’re going into it below. The easiest way to think about non-fungible tokens (NFTs) is owning an original copy of something - a unique digital token (a token is another name for a digital receipt) verified by the owner. It could be an album, an artwork or a meme - even when you see thousands of copies of it out there, you'll know you have an original. NFTs are particularly popular within digital art.

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