NFTs, what are they exactly?!
Just recently in the cryptocurrency world, there was an explosion when Beeple, sold his art called “Everydays: The first 5000 days” for $69.3 million! This seemed like a breakthrough for all the digital artists, where their art can be sold for whatever price they want in cryptocurrencies (mostly Ethereum ). From art and music to tweets, tacos and even toilet paper, these digital assets are being sold in millions and are owned by many influential people as well! But then, are these NFTs worth all the hype and the money that is spent on them? And what exactly are they, how do they even work? So, what are NFTs? Non- fungible token is a digital asset which cannot be copied or stolen. It is based on the famous blockchain technology hence, very secured. But unlike cryptocurrencies , these digital assets cannot be exchanged with one another. In a simpler manner- it is like a digital version of collecting physical collectibles lik...