NFT stands for non-fungible token.
That didn't help much, did it? Most NFTs exist on the Ethereum blockchain, like a crypto-currency. But what do you get if you buy an NFT?
You can buy pretty much anything digital: music, a drawing, whatever you can upload and convince someone to pay for. Even the original of the image here.
But what you get for your money is a touch more abstract. Just like a painting in a museum, people may be able to look at or listen to your NFT on-line, but you'll still own the original and presumably you'll be able to sell it as well. Maybe at a profit.
If you're not convinced yet that this NFT notion is real: a 50-second video by the artist Grimes sold for $390,000. You can check it out here: https://youtu.be/4fMDyQU0uKE
Here at OptIn Ventures, we get more excited about a different type of real asset - usable, valuable, profitably resell-able, land.
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