An NFT is essentially a digital collectible asset that holds value as a form of cryptocurrency. Just as art is seen as an investment that holds value, so are NFTs. But how? Let's first split the term.
NFTs belong to the Ethereum blockchain, so they are individual tokens with additional information stored in them. That additional information is the key element that enables art, music, video (and so on) to take shape as a JPG, MP3, video, GIF, and more. Because they have value, they can be purchased and sold much like other types of art – and the value is set by the market and demand, just like physical art.
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