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NFTs Vs Cryptocurrency Vs Blockchain;
What’s The Difference?
The eye-popping million-dollar sales on NFTs have left people wondering, “What’s going on here?” Google search volumes for NFTs, crypto, and blockchain have blown up to an all-time high over the last few months. For the curious minds trying to wrap their mind around this phenomenon, here’s the tea.
Let us start with NFTs…
You must have heard of the $69 million spent on a single NFT by Beeple auctioned at Christie’s on March 11th, 2021. If not, take a moment to allow the million-dollar sale of one image to sink in. This NFT boom has attracted even more collectors, projects, content creators, celebrities, investors, and they’re now diving headfirst into NFTs. Most people still find it mind-boggling how a single JPEG fetched almost $70 million. So what exactly are NFTs?
To get a clear picture of what NFTs are, it’s crucial to understand what each of these letters stands for. The term NFT is short for non-fungible tokens. A token is a representation of a certain object, feeling, fact, quality, and so on. In this case…
