Christie's Auction house sold a NFT for $69 million dollars. WHY?! 

So, to understand why, you've got to know a NFT is much more than a JPEG. Let's break it down.

First lets identify what a Fungible good is. It's an item that is interchangeable because it's replicable. dollar bills are a great example of a fungible good.

A Non Fungible good is rare, unique, and non replicable. A simple example would be a trading card or original piece of art. The more rare the more valuable. A NFT (Non Fungible Token) is a digital asset that carries a unique digital identifier so that it cannot be copied, substituted, or subdivided. It is recorded on a blockchain, which certifies authenticity and ownership (as of a specific digital asset and specific rights relating to it) of the Non-fungible token.

NFTs give rise to a whole new world where digital assets act like currency that you can sell, trade and hold, as its rarity builds value. The other exciting aspect of the NFT is that its creator has the ability to earn a percentage of all future transactions made as it moves hands in the blockchain.

NFTs offer a lot of benefits, so in this episode we're going to break it down for you.

Topics:
➡️ What is an NFT (Non Fungible Token)
➡️ What is the difference between Fungible and Non Fungible
➡️ What makes an NFT unique and non duplicated?
➡️ What is a digital asset
➡️ What does this mean for currency?
➡️ What is the value of holding, buying and selling an NFT?

Reference:
www.coinbase.com

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This show is for entertainment purposes only and should not be considered investment or financial advice. Do your research!