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The NFT Boom: Why Are Investors Pumping Money into It and Why You Should Too
Does a small investment and a huge ROI sound like a far-fetched dream? Maybe it doesn’t have to anymore.
NFTs are changing the way we think about art, crypto, and investing. I mean, duh.
We now have heaps of examples of NFTs selling for staggering prices. Grimes sold 10 art pieces for $5.8 million. Beeple sold a single NFT for $69 million.
Smart investors took note and jumped on the bandwagon. If you consider yourself one, maybe it’s time you do the same.
But do look before you leap. Here’s everything you need to know about NFTs to make an educated decision, from what they are to what the future holds.
What Is NFT?
NFT stands for non-fungible token. In essence, NFT is a cryptocurrency.
But there’s one big difference between NFT and standard cryptos like Bitcoin or NEO. NFTs are non-fungible. Other cryptocurrencies are fungible. More on that in a moment.
For now, let’s look into the purpose of NFTs. NFTs:
a) prove authenticity
b) prove ownership
