NFTs (non-fungible tokens) have officially taken the world by storm. Collins Dictionary named “NFT” 2021’s word of the year. The use of the term increased 11,000% this year.
In basic terms, an NFT is a piece of digital content linked to the blockchain. NFTs are also used to represent ownership of unique items, like pieces of art, collectibles and more. So NFTs can serve as certificates of authenticity for a piece of art. And they can also be the art itself.
So how did NFTs go from being a niche topic in the crypto community to a mainstream interest?
In this episode of Crypto Insider, Vin Narayanan and Andy Gordon provide some background to answer that question. They explore some of the top NFT-related headlines, the staggering growth of NFT marketplace OpenSea, the catalysts that have caused the NTF explosion and more.
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