Let’s get fungible: Breaking down NFTs, where they’re sold, and why they’re exploding in popularity
You’ve probably seen NFTs in news headlines, as pieces of digital art being sold for what seem like outlandish sums. Trading on the blockchain, it’s the latest craze for those in the tech space, creating what looks like a speculative asset bubble.
As records are broken on a daily basis in the NFT marketplace, it’s feeling a bit like the early Bitcoin hype, as fear-of-missing-out drives big booms.
But after seeing the rise, bust, and subsequent rise of Bitcoin, investors are taking blockchain-based collectibles a little more seriously.
This cheat sheet breaks down NFTs for you so that you can see if there’s an opportunity for your business.