Alva Review-Courier -

EXPLAINER: What's this craze for 'NFTs' all about, anyway?

 

March 12, 2021



LONDON (AP) — A digital art piece, tweaked using cryptocurrency technology to make it one-of-a-kind, sold at auction this week for nearly $70 million. That transaction made global headlines and buoyed already-mushrooming interest in these kinds of digital objects — known as non-fungible tokens, or NFTs — that have captured the attention of artists and collectors alike.

A NON-WHAT TOKEN?

In economics jargon, a fungible token is an asset that can be exchanged on a one-for-one basis. Think of dollars or bitcoins — each one has the exact same value and can be traded freely. A non-fung...



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