Non-fungible token and how it impacts the high-value art market
Some consider Non-fungible token “a modern Holland tulip fever”. Indeed, in early April, an NFT artwork was sold for more than $69 million through auction. Non-fungible token[/caption] “Artists have been using hardware and software to create artwork and distribute it on the internet for the last 20+ years but there was never a real way to truly own and collect it… With NFTs that has now changed.", said Mike Winkelmann. Mike is the owner of the NFT artwork "Everydays: The First 5000 Days" - which was sold for more than $69 million in early April this year. In the past few years, the term Non-fungible token (NFT), associated with blockchain, has become popular in the digital product market. The world has continuously recorded sales records of NFT products including digital art, GIFs, game items, and even famous tweets. Since NFT is a new concept, it has much to talk about. In this article, let's start with learning "What is an NFT?" and then have some disc...