This video is simple explanation for beginners.
If you’re looking to understand, buy, sell or make NFTs, this is a great place to start.
NFTs are the latest hype in technology, art & investing.
Just like people collect wine & art, NFTs allow digital things to become collectibles.
Like, this basketball clip of Lebron James, or Snoop Dogg’s latest song, which now collectibles trading over the internet.
But why the hype ? Partly because its a status symbol
This collection of ape artwork is is owned by an elite club of celebrities and millionaires.
But the hype is mostly because NFTs are selling for ridiculous amounts of money.
Anyone can create an NFT in minutes & freely sell it on the internet.
This has led to a big speculation bubble with people trying to get rich quick
These selfies, which a student uploaded as joke eventually sold for over a million.
100s of celebrities are trying to sell their pictures and exploit their fans.
But this innovation has practical uses like digitising college degrees and letting artist to sell digital art Which is why companies like Nike & Visa are betting big on it.
To learn more about NFTs & cryptocurrency, checkout our other videos