NFTs Explained.<br />An NFT created by digital artist Beeple recently <br />took in more than $69 million at the <br />centuries-old auction house, Christie's.<br />The amount shatters records for the sale of digital art <br />and is an indicator of the direction in which <br />all fine art could be headed.<br />But what is an NFT? .<br />The letters stand for non-fungible token, which <br />basically means that the "token" cannot be replaced <br />by something else because of its uniqueness.<br />NFTs can take any digital form, <br />but what is making headlines <br />now are digital art NFTs.<br />Because they are designed to be unique <br />and not able to be copied, owning <br />an NFT is like owning an original Picasso.<br />Prints of Picasso paintings are inexpensive and easy <br />to get, but only one person can own the original, <br />which can sell for tens of millions of dollars.<br />An NFT creator will always be credited <br />and receive payment for the buying <br />and selling of their digital work...<br />... because most NFTs are an extension of <br />the Ethereum blockchain, and as such all <br />transactions are public and traceable
