Explainer: What are NFTs?

LONDON, Nov 17 (Reuters) – Non-fungible tokens (NFTs), a type of digital asset, have exploded in popularity this year, with NFT artworks selling for millions of dollars.The trend is perplexing those who might wonder why so much money is being spent on items that only exist in digital form and can be viewed by anyone for free. Supporters view NFTs as the next phase in art collection.WHAT IS AN NFT?An NFT is a digital asset that exists on a blockchain, a record of transactions kept on networked computers. The blockchain serves as a public ledger, allowing anyone to …
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