What are NFTs?

What are NFTs? Thanks for asking! It’s one of the latest crazes in the world of blockchain. Non-fungible tokens are digital certificates of ownership, which state who owns a piece of virtual crypto-art. That’s right, you can now buy collectible digital art, like memes, GIFs, videos and even tweets, all thanks to NFTs. NFTs emerged in 2017, as part of the Ethereum cryptocurrency blockchain. You’ve most likely heard of bitcoin and blockchain before. Well, NFTs are based on the same technology. So are NFTs cryptocurrency then? What are the advantages of using the blockchain? Why would anyone spend millions on something that can be copied endlessly and can’t even be hung up on their wall? In under 3 minutes, we answer your questions! To listen to the last episodes, you can click here: What is pansexuality? What is soft power? What is Covax? A podcast written and realised by Joseph Chance. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices