Earlier this year non-fungible tokens (NFTs) were everywhere. They were revolutionizing the art world with digital art such as online pictures, videos, even tweets, and gifs. NFTs are unique digital assets that cannot be replicated and that way guarantee someone has ownership of a specific virtual item.
Initial NFT Frenzy
Digital artist Beeple sold an NFT for a small fortune of $69 million at a Christie’s auction. Although that was the record in price, others also made some big bucks. The CEO of Twitter, Jack Dorsey sold his first tweet that same month for $2.9 million.
In more recent news, a billionaire bought a rare digital avatar known as a CryptoPunk at Sotheby’s for over $11.7 million. Still, new data shows sales dropped from a seven-day peak of $176 million on May 9 to just $8.7 million on June 15. The numbers are back to where they we…
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Source: Cryptocurrency - investing.com
