Episode 169: NFTs...what exactly are they?
Non-fungible tokens—also known as NFTs—are unique digital pieces with unique digital codes that represent some sort of digital item that you can own. It could be digital art, music, videos, tweets, and even memes. It's totally unique and has a non-interchangeable unit of data which makes it encrypted in the blockchain system, similar to cryptocurrencies like Bitcoin and Ethereum. The NFT market has exploded in the last couple of years alone with over $40 billion USD sold in 2021 alone and is projected to continue growing each upcoming year. Will NFTs catch on with each coming year in popularity or will it fizzle out like other trends in the past? Join us for today’s episode as we do our best to describe what NFTs are and what their future could be in our society.