Episode 169: NFTs...what exactly are they?
Update: 2022-03-16
Description
Non-fungible tokens—also known as NFTs—are unique digital pieces with
unique digital codes that represent some sort of digital item that you can
own. It could be digital art, music, videos, tweets, and even memes. It's
totally unique and has a non-interchangeable unit of data which makes it
encrypted in the blockchain system, similar to cryptocurrencies like
Bitcoin and Ethereum.
The NFT market has exploded in the last couple of years alone with over $40
billion USD sold in 2021 alone and is projected to continue growing each
upcoming year.
Will NFTs catch on with each coming year in popularity or will it fizzle
out like other trends in the past? Join us for today’s episode as we do our
best to describe what NFTs are and what their future could be in our
society.
unique digital codes that represent some sort of digital item that you can
own. It could be digital art, music, videos, tweets, and even memes. It's
totally unique and has a non-interchangeable unit of data which makes it
encrypted in the blockchain system, similar to cryptocurrencies like
Bitcoin and Ethereum.
The NFT market has exploded in the last couple of years alone with over $40
billion USD sold in 2021 alone and is projected to continue growing each
upcoming year.
Will NFTs catch on with each coming year in popularity or will it fizzle
out like other trends in the past? Join us for today’s episode as we do our
best to describe what NFTs are and what their future could be in our
society.
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