The basic idea of an NFT is that it's a type of cryptocurrency that you can sell so that it is truly unique.
Digital artists are doing a lot with this. Essentially, you can create a piece of digital artwork and sell the "original" so that only one person owns it.
Proponents would say that it's not much different from real artwork! There are millions of copies of the Mona Lisa, but you can only find the real one in the Louvre.
Critics would say that the real Mona Lisa is a real physical thing and that there is no inherent difference between the original and a copy of a digital work of art.
But that hasn't stopped the craze from growing out of control. Earlier this month, a piece of NFT art sold for an insane $69.3 million! That's not a typo!
And influential folks are getting in on the action too. Earlier this week, Elon Musk, who's down to perpetuate any fad he finds interesting, suggested that he was going to sell the NFT of a techno song he created about NFTs (before ultimately deciding not to).
So are NFTs the real thing? Are they something you need to be obsessed with?
My best answer? Who knows!
Okay that is a cop-out. I don't think they're anything you need to be worried about yet.
It's hard to know whether this is the wave of the future or the next pet rock.
And really, that's true of the entire broader crypto market.
Not saying I'm a crypto denier by any means, but it's hard to know whether were in the middle of a fad or at the beginning of a revolution!
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