Artistes, musicians and artwork collectors are minting thousands and thousands with non-fungible token (NFT) artwork. What are these Non-fungible tokens and why are they value thousands and thousands of {dollars}? Is it only a fad or is the way forward for the artwork world? ET’s Anandi Chandrashekhar explains. Watch

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ASHISH BANERJEE
2 months ago

Quite simply, an NFT is a crypto coin with a face and an identity, like a commemorative coin, bank note or a postage stamp. Not all have sky high valuations and you need about 100 USD in crypto to make one! Further, are NFTs destroyed or lose value if the art work that is the basis of an NFT is destroyed? Is the uniqueness of the NFT that's relevant? An art work could be destroyed and recreated (artists regularly recreate) to create another NFT. Decentralization is no guarantee of honesty.

Rahul Ajith
6 months ago

20 percent of Umm aah umm

Heather Stevens-messer
7 months ago

Selling a tweet?? I really don't understand…why? I can take a screen shot of any of these things, why would someone pay that much for something digital??

ChrisCollinsSR DotCom
7 months ago

Wow, what's next? Is this just a warm up to one world currency and a cashless world?

armiks22
7 months ago

I cringed so hard, I think I need to see a doctor now.

Refined Phenomena
8 months ago

Is that what they call money laundering these days ?