What the Heck is an NFT?

Welcome to Business Shorts. Business explained in shorts.

An NFT created by digital artist Beeple recently fetched more than $69 million at Christie's, the centuries-old auction house.
The sum breaks sales records for digital art and is an indication of where all fine art could be heading.

But what exactly is an NFT?
The letters stand for non-fungible token, which means that due to its uniqueness, the "token" cannot be replaced by anything else.
NFTs can take any digital form, but digital art NFTs are making headlines right now.
Owning an NFT is like owning an original Picasso because they are designed to be unique and uncopyable.
Prints of Picasso paintings are inexpensive and easy to obtain, but the original, which can sell for tens of millions of dollars, can only be owned by one person.
Because most NFTs are an extension of the Ethereum blockchain, all transactions are public and traceable, an NFT creator will always be credited and paid for the buying and selling of their digital work.

Music by QubeSounds from Pixabay
All videos from Beeple “Manifest Destiny” https://www.beeple-crap.com/

Don't forget to subscribe.

A cryptocurrency video course for beginners shorturl.at/lS267
The Most Important Breakthrough Of Your Lifetime with Crypto shorturl.at/bMPR3