What are NFTS & how do they work?

“NFT” stands for “non-fungible token,” and NFTs are a way of proving ownership over digital goods. Although most NFTs rely on the ethereum blockchain, a few alternatives have appeared in recent years. The most expensive NFT ever sold went for $69 million. Thousands of NFT sales worth millions of dollars in total value are traded each day.

How many loans has nftfi done?

Since NFTfi’s first loan in May 2020, we have done over $300m in loan volume spread over more than 30,000 loans, and no borrower has ever had an asset stolen. The NFTfi V2 smart contract system has been double-audited by two industry-leading firms ( Chainsecurity, Halborn ).

How much money has been spent on NFTS in 2020?

Since the first week in September 2020, at least $1 million has been spent on NFTs in any seven-day period. Of course, this isn’t much compared to the $176 million spent in the first week of May 2021, but since May, sales appear to have settled to between $10 and $20 million a week. 1 15. What Was the Total Value of NFT Sales In 2020?

What is the non-fungible token (NFT)?

One of the most high-profile technological stories of 2021 has been the rise in popularity of the non-fungible token (NFT), the newest hype in the world of distributed ledgers and cryptocurrencies. This breakthrough technology has taken the art and tech worlds by storm.