News Digest

How NFTs Create Value

In March 2021, a work of art called Everydays: The First 5000 Days sold for $69 million at Christie’s Auction House. It’s not out of the ordinary to see eight-figure art sales, but this one received a lot of attention because the piece was sold as a non-fungible token (NFT) – an electronic record corresponding to an image that lives entirely in the digital world.
Put differently: Someone paid almost $70 million for a picture on the internet.

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