What do you need to know about NFTS?

Here’s what you need to know about NFTs. What is an NFT? NFT stands for non-fungible token. They're are a type of crypto asset, meaning they are digital assets rather than physical. Also, while they can hold monetary value like any other asset, they are not considered a cryptocurrency. Non-fungible refers to the fact that each NFT is unique.

What does NFT stand for in art?

He sold all his work from the first 5,000 days - which is equivalent to 13 years - since he started creating art online back in 2007. The final digital collage was sold as something known as an NFT, which stands for "non-fungible-token". Want more cool money stories? Why is the richest man in the world talking about Bitcoin?

What is a NFT & why are people paying millions?

A NFT is a digital file with verified identity and ownership. (Shutterstock) What are NFTs and why are people paying millions for them? Last week, Christie’s sold a digital collage of images called “Everydays: The First 5000 Days” for US$69.3 million dollars.

What is NFT (non fungible token)?

NFT stands for non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends. Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another.