NFT sales top $2 billion in first quarter, with twice as many buyers as sellers
NFT is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos. NFT Meaning CRYPTO
NFT stands for non-fungible token. It’s generally built using the same kind of programming as cryptocurrency, like Bitcoin or Ethereum, but that’s where the similarity ends.
Physical money and cryptocurrencies are “fungible,” meaning they can be traded or exchanged for one another. They’re also equal in value—one dollar is always worth another dollar; one Bitcoin is always equal to another Bitcoin. Crypto’s fungibility makes it a trusted means of conducting transactions on the blockchain.
- Sales of nonfungible tokens soared to more than $2 billion in the first quarter — more than 20 times the volume of the previous quarter, according to a report from NonFungible.com.
- NonFungible.com said the industry is largely dominated by the art and collectibles segments, and specifically projects such as CryptoPunks and SuperRare.
- Despite the recent price drops from the February highs, NonFungible.com said the average price of NFTs “increased significantly” during the quarter.
Viral Video “Charlie Bit My Finger” will be taken off YouTube after NFT sells for $760,000
One of the internet’s original viral videos will soon be taken off YouTube, after garnering more than 880 million views since it was first posted in 2007.
The family behind the beloved video is taking it offline after selling it as an NFT for over $760,000.
The 55-second clip features baby Charlie Davies-Carr biting his brother Harry’s finger. Harry, with his adorable British accent, screams and tells his brother how much it hurt.
The Davies-Carr family auctioned the clip as an NFT, a non-fungible token, a unique collectible stored on a digital ledger known as a blockchain. The anonymous account “3fmusic” submitted the top bid, snagging the NFT for $760,999 after an intense bidding war in the auction’s final hours.