Since NFTs burst in popularity a year ago, the situation has only become more complex. Pictures of apes have sold for tens of millions of dollars, reports of million-dollar hacks of NFT projects are endless, and corporate cash grabs have only gotten worse.
NFTs, also known as non-fungible tokens, are a type of cryptographic asset that is exclusive to a blockchain and cannot be duplicated. It is possible for it to represent real-world goods such as artwork and real estate.
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There’s no doubt that Non-Fungible Tokens are the most popular trend in the crypto community right now. From celebrities to respected companies, everyone is talking about launching their own NFTs. But not all NFTs are made equal: while some are worth a fortune, some can be practically worthless.