NFTs, or non-fungible tokens, are the latest new obsession among cryptocurrency and blockchain enthusiasts at the moment. You may have heard of them in the context of crazy price tags and valuations. Indeed, the concept has found tremendous success among collectors, with many NFTs selling for thousands or even millions of dollars. From Twitter co-founder Jack Dorsey to smartphone manufacturers like Samsung, it seems like just about everyone’s trying to cash in on this new paradigm.
Naturally, this raises some important questions: what are NFTs and why are they suddenly being heralded as a revolutionary technology? After all, digital collectibles aren’t exactly a new concept.
