- A few months back, non-fungible tokens (NFTs) were the latest craze of the payments industry.
- However, it was short as the value of NFTs fell about 90% over the last month
A few months back, non-fungible tokens (NFTs) were the latest craze sweeping the payments industry. They were on almost everyone’s lips.
It attracted many celebrities like Snoop Dogg, Lyndsay Lohan, Jack Dorsey, and more. What is more, Jack Dorsey sold off his first-ever tweet for $2.5 million. Also, Lindsay (NYSE:LNN) Lohan has launched her NFT on a TRON-based decentralized marketplace on March 20, 2021.
Non-fungibility, the term that gives NFTs such an alien sound, means that each NFT is unique, with its own, irreplicable digital signature. Besides, it was trending the last few months but went bust recently.
In early March, a digital piece of artwork was sold for around $70 million. It was the first-ever sale by a major seller for painting that does not exist in any physical form.
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This article was first published on coinquora.com