NFTs and Digital Collectibles

NFTs are blockchain tokens that record ownership of a digital item. They boomed in 2021 and then crashed. Here is what they are, what you actually own and what the boom and bust teach about speculative assets.

What an NFT is

A non-fungible token is a unique entry on a blockchain that links to a digital item, like an image, a game item or a ticket. “Non-fungible” means each token is distinct, unlike a bitcoin, where every coin is interchangeable. Most NFTs live on the Ethereum network and are priced in ether.

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