ABCs of NFTs (1 of 2)
Before launching Witch Auction, we wanted to touch on the current craze behind NFTs for those who are new to the NFT landscape.
We will go over the basics of NFTs to the latest trends in this series.
An NFT, or “non-fungible token,” is a digital asset that lives on a blockchain. An NFT could represent artwork (an image, video, or audio file), in-game item, domain or even a ticket to a show.
It’s provability, exclusivity and ability to represent a digital file has revolutionized the way digital artwork is bought and sold. A prime example of this is the sale of an NFT artwork by the digital artist known as Beeple that was sold for $69 million.