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.
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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